If It Is Known That the Population Proportion of Car

question 28

Short Answer

If it is known that the population proportion of car parks in a particular city that offer early discount fees is 25%, which of the following best describes the mean and standard deviation of the sampling distribution of the sample proportion of car parks that offer early discount fees for samples taken of size 30? $\begin{array}{|l|l|}\hline A&\text { The mean is 0.25 and the standard deviation is 0.006 .}\\\hline B&\text {The mean is 0.25 and the standard deviation is 0.75 . }\\\hline C&\text {The mean is 0.25 and the standard deviation is 0.079 . }\\\hline D&\text {None of these choices are correct. }\\\hline \end{array}$

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Definitions:

Production Data

Information related to the amount, type, and quality of goods or services produced.

Contribution Margin

A financial metric that represents the difference between the sales revenue of a product and the variable costs associated with producing that product.

Break-Even Point

The financial position at which total revenues equal total costs and expenses, with no net profit or loss, often used to analyze the viability of a business or project.

Variable Cost

Costs that change in proportion to the level of goods or services that a business produces, as opposed to fixed costs which remain constant regardless of production volume.