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p = 75/150 = 0.50
b. What is the point estimate of the proportion of the proportion in the population who
respond No?
P = 55/150 = 0.3667
3. Assume the population standard deviation is σ = 25. Compute the standard error of the
mean, for the sample sizes of 50, 100, 150, and 200. What can you say about the size of
the standard error of the mean as the sample size is increased?
4. A simple random sample of size 100 is selected from a population with p = 0,4.
E( ) = µ = µ = 0,4
Ơp = √p(1 – p)/n
= √0,4(1 – 0,4) / 100
= √0,24 / 100
= √0,0024
= 0,0489
5. A sample of 50 Fortune 500 companies (Fortune, April 14, 2003) showed 5 were based
in New York, 6 in California, 2 in Minnesota, and 1 in Wisconsin.
a. Develop an estimate of the proportion of Fortune 500 companies based in New York?
X=5
n = 50
P = X/n = 5/50
X=2
n = 50
P = X/n = 2/50
P = 0.04
c. Develop an estimate of the proportion of Fortune 500 companies that are not based in
these four states?
Source : Anderson, David R., Sweeney, Dennis J., Williams, Thomas A. (2011). Statistics
for Business and Economics. 11th Edition. Cengage Learning. USA. ISBN: 978-
0538481649.
Chapter 7, Pages 257-298