Home Ownership According to the Bureau of the Census, 68

question 21

Essay

Home ownership According to the Bureau of the Census, 68.0% of Americans owned their
own homes in 2003. A local real estate office is curious as to whether a higher percentage of
Americans own their own homes in its area. The office selects a random sample of 200
people in the area to estimate the percentage of those people that own their own homes.
a. Verify that a Normal model is a useful approximation for the Binomial in this situation.
b. What is the probability that at least 140 people will report owning their own home?
c. Based on the sample, how many people would it take for you to be convinced that a
higher percentage of Americans own their own homes in that area? Explain.

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Definitions:

Internal Locus of Control

This refers to the belief that individuals have control over the events in their lives through their decisions and actions.

Unconditional Positive Regard

A concept in client-centered therapy that refers to accepting and supporting someone without judgment, regardless of what they say or do.

Self-Esteem

Self-Esteem is an individual's subjective evaluation of their own worth, entailing beliefs about oneself as well as emotional states.

Self-Concept

A psychological term that describes how one perceives oneself, encompassing beliefs, attitudes, and opinions about one's identity and abilities.