According to a study conducted in one city, 34% of adults in the city have credit card debts of more than$2000. A sample n=300 is obtained from the city. Describe the sampling distribution of p hat?

Question

Micaela Cortez

Mathematics

5 November, 07:54

According to a study conducted in one city, 34% of adults in the city have credit card debts of more than$2000. A sample n=300 is obtained from the city. Describe the sampling distribution of p hat?

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Answers (1)

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Summer Mann · Answer 1

p hat≈N (0.34,0.0273)

Step-by-step explanation:

Given information p=0.34

Number of random samples=300

The sampling distribution of p hat is

p∧≈N (0.34,/sqrt{/frac{0.34 (1-0.34) }{300}})

≈N (0.34,0.0273)