Use the Following Information to Answer Questions

question 58

Essay

Use the following information to answer questions . Suppose that a recent poll of single people over the
age of thirty-five were asked about their living arrangements. The poll found that 34% rented a house or
apartment, 21% owned a house, and 17% owned a condominium. Suppose that four single people are selected
randomly and with replacement.
-What is the probability that none of the four randomly selected people rent a house or apartment? Show your work and round to the nearest thousandth.

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Definitions:

Population Proportion

The ratio of individuals in a subgroup of a population to the total population, often expressed as a percentage.

Variance

A measure of the dispersion or spread of a set of data points around their mean (average) value, indicating how far the data points are from the mean.

Unbiased Estimator

A statistical estimator whose expected value is equal to the parameter it estimates, indicating it does not overestimate or underestimate the true value.

Population Parameter

A Population Parameter is a value that represents a characteristic of an entire population, such as its mean or standard deviation.