SOLUTION: a firm claims that only 10% of its accounts receivables are over 30 days past due. The bank that supplies working capital or interim loans to the firm is suspect of the figure and
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Question 936153: a firm claims that only 10% of its accounts receivables are over 30 days past due. The bank that supplies working capital or interim loans to the firm is suspect of the figure and accordingly takes a random sample of 100 accounts of the firm. find the probability that the sample proportion, p, will be ?
a) between 9% and 10%
b) at least 12% Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! P(x <.09) = P(z < -.01/sqrt(.10*.90/100))
P(.09 < x < .10) = .5 - P(z < .09) = .5 - normalcdf(-100, -1/3)
.....
P( x <.12) = P(z< .02/sqrt(.10*.90/100)) = normalcdf(-100, 2/3)
