In a Recent Survey, 84% of the Community Favored Building

question 99

Essay

In a recent survey, 84% of the community favored building more parks in their neighborhood. You randomlyselect 19 citizens and ask each if he or she thinks the community needs more parks. Decide whether you canuse the normal distribution to approximate the binomial distribution. If so, find the mean and standarddeviation. If not, explain why.

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Definitions:

Dividends Paid

The part of a corporation's profits paid out to its shareholders, typically as cash or more stocks.

Discount

It is a reduction from the usual cost of something, often applied to encourage early payment or to reward bulk purchases.

Interest Expense

The cost incurred by an entity for borrowed funds over a period of time, typically expressed in terms of an annual percentage rate.

Market Interest Rate

The current rate of interest available in the market that borrowers must pay to obtain funds.