According to Gallup, About 33% of Americans Polled Said They

question 77

Essay

According to Gallup, about 33% of Americans polled said they frequently experience stress in their daily lives. Suppose you are in a class of 45 students.
a. What is the probability that no more than 12 students in the class will say that they frequently experience stress in their daily lives? (Make sure to identify the sampling distribution you use and check all necessary conditions.)
b. If 20 students in the class said they frequently experience stress in their daily lives, would you be surprised? Explain, and use statistics to support your answer.

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Definitions:

Price Discrimination

The practice of selling the same product to different buyers at different prices, based on factors such as willingness to pay, quantity purchased, or buyer characteristics.

Differential Prices

The practice of charging different prices for the same product or service to various customers based on market factors.

Fixed Cost

Expenses that do not change with the level of output or production, such as rent or salaries.

Aggregating Lots

The process of combining smaller batches of goods into larger lots to optimize production and distribution efficiency.