According to a Study Conducted in One City $39 \%$ Of Adults in the City Have Credit Card Debts of Of Adults

question 7

Multiple Choice

According to a study conducted in one city, $39 \%$ of adults in the city have credit card debts of more than $\$ 2000$ . A simple random sample of $n = 100$ adults is obtained from the city. Describe the sampling distribution of $p$ , the sample proportion of adults who have credit card debts of more than $\$ 2000$ .

• A) Approximately normal; \(\mu _ { \mathrm { p } } = 0.39 , \sigma _ { \mathrm { p } } = 0.049\)
• B) Exactly normal; \(\mu _ { p } = 0.39 , \sigma p = 0.049\)
• C) Approximately normal; \(\mu _ { \mathrm { p } } = 0.39 , \sigma _ { \mathrm { p } } = 0.0024\)
• D) Binomial; \(\mu _ { \mathrm { p } } = 39 , \sigma _ { \mathrm { p } } = 4.88\) 2 Compute probabilities of a sample proportion.

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Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates and carries out its day-to-day transactions.

Exchange Rate

The value of one currency for the purpose of conversion to another.

Historical Cost

The original monetary value of an asset or transaction, without adjustments for inflation or other factors.

Functional Currency

represents the currency of the primary economic environment in which an entity operates, crucial for financial reporting and determining the entity's financial results and position.