A direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. Suppose the true proportion is 0.07. If 497 are sampled, what is the probability that the sample proportion will be greater than 0.05? Round your answer to four decimal places.

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.2: Proportions
Problem 47WE
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A direct mail company wishes to
estimate the proportion of people on
a large mailing list that will purchase a
product. Suppose the true proportion
is 0.07.
If 497 are sampled, what is the
probability that the sample proportion
will be greater than 0.05? Round your
answer to four decimal places.
Transcribed Image Text:A direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. Suppose the true proportion is 0.07. If 497 are sampled, what is the probability that the sample proportion will be greater than 0.05? Round your answer to four decimal places.
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