Use the Central Limit Theorem to Find the Indicated Probability $\hat { p } \text {. }$

question 130

Multiple Choice

Use the Central Limit Theorem to find the indicated probability. The sample size is n, the population proportion is p, and the sample proportion is $\hat { p } \text {. }$ $n = 166 , p = 0.61 ; P ( \hat { p } > 0.58 )$

• A) 0.7389
• B) 0.7517
• C) 0.2148
• D) 0.7852

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Definitions:

Year 1

Often refers to the first year of operations for a business or the first year in a multi-year financial analysis.

Beginning Inventory

The value of inventory on hand at the start of an accounting period, used in calculating cost of goods sold.

Cost of Goods Sold

Direct financial expenditures related to the generation of a company’s saleable products, covering labor and materials.

Periodic Method

An inventory accounting method where updates to the inventory records are made periodically, typically at the end of the accounting period.