The Publisher of a Daily Newspaper Claims That 90% of Its

question 44

Short Answer

The publisher of a daily newspaper claims that 90% of its subscribers are under the age of 30. Suppose that a sample of 300 subscribers is selected at random. Assuming the claim is correct, calculate the probability of finding at least 260 subscribers in the sample under the age of 30.

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Definitions:

Fixed-Rate Mortgages

A type of mortgage where the interest rate remains the same throughout the term of the loan.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set.

Competitive Rate

An interest rate, price, or charge that is favorable compared to those offered by competitors.

Residences

Places where individuals live or dwell for a period of time.