A Simple Random Sample of Size N=1320 Is Obtained $\hat { p }$

question 22

Multiple Choice

A simple random sample of size n=1320 is obtained from a population whose size is N=1,400,000 and whose population proportion with a specified characteristic is p=0.46 . Describe the sampling distribution of $\hat { p }$ .

• A) Approximately normal; \(\mu _ { \mathrm { p } } = 0.46 , \sigma _ { \mathrm { p } } = 0.014\).
• B) Exactly normal; \(\mu _ { \mathrm { p } } = 0.46 , { } _ { \mathrm { p } } \mathrm { p } = 0.1332\)
• C) Approximately normal; \(\mu _ { \mathrm { p } } = 0.46 , \sigma _ { \mathrm { p } } = 0.014\)
• D) Exactly normal; \(\mu _ { p } = 0.46 , \sigma p = 0.1332\)

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Definitions:

Bond

A fixed income instrument representing a loan made by an investor to a borrower, typically corporate or governmental.

Issued

Refers to securities or other financial instruments that have been created and offered for sale to investors.

Journal Entry

A record in accounting that consists of debits and credits to various accounts, used to document business transactions in the financial records.

Premium on Bonds Payable

The excess amount by which a bond is sold over its face value.