Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Statistics


Home >> Statistics and Probability

Based on past experience, 20% of the contacts made by a firm's sales representatives result in a sale being made. Charlie has contacted 100 potential customers but has made only 10 sales. Assume that Charlie's contacts represent a simple random sample of those who could have been called upon. Given this information:

a. What is the sample proportion, p 5 proportion of contacts that resulted in a sale being made?

b. For simple random samples of this size, what is the probability that p # 0.10?

c. Based on your answer to (b), would you tend to accept Charlie's explanation that he "just had a bad day"?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91670392

Have any Question?


Related Questions in Statistics and Probability

Two payments of 9000 and 2600 are due in 1 year and 2 years

Two payments of $9,000 and $2,600 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 6 months and in 5 years if money is worth 10.00% compounded quart ...

A researcher working at a particular company wants to know

A researcher working at a particular company wants to know if workers' health would improve if they were given extra days 'off. In this company, all workers undergo a standard physical exam twice a year and after each ex ...

The everly equipment companys flange-lipping machine was

The Everly Equipment Company's flange-lipping machine was purchased 5 years ago for $70,000. It had an expected life of 10 years when it was bought and its remaining depreciation is $7,000 per year for each year of its r ...

On the production line the company finds that 997 of

On the production line the company finds that 99.7% of products are made correctly. You are responsible for quality control and take batches of 30 products from the line and test them. What number of the 30 being incorre ...

A representative from your company visited a prison and

A representative from your company visited a prison and sampled 500 prisoners in Kailil, concluding that 90 of them are political prisoners. The Test hypothesis, at the 5% significance level, that one third of the prison ...

A shipment of 11 televisions sets contains 4 defective sets

A shipment of 11 televisions sets contains 4 defective sets. A hotel purchases 7 of these televisions sets. a: In how many ways can a hotel purchase 7 and receive 2 of the defective sets? b: What is the probability that ...

Te height of woman ages 20-29 is normally distributed

The height of woman ages 20-29 is normally distributed , with a mean of 64.3 inches. assuming the standard diviation = 2.4 inches. are you more likely to randomly select 1 woman with a height less than 66.2 inches or are ...

One study based on responses from 1 013 randomly selected

One study, based on responses from 1, 013 randomly selected teenagers, concluded that 43% of teenagers cite grades that their greatest source of pressure. Use a 0.05 significance level to test the claim that fewer than h ...

A teacher started class one day by drawing the names of 10

A teacher started class one day by drawing the names of 10 students out of a hat and asked them to accomplish as much pushups as they could. The 10 randomly selected students averaged 15 pushups per person with a standar ...

Taylor found that 8 of the recipients of loans form a

Taylor found that 8% of the recipients of loans form a particular mortgage lender default within 3 years. If he takes a random sample of 736 customers who received loans 3 years ago, what is the average number of custome ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved