THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 18

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A store has determined that 28% of all refrigerators purchasers will also purchase a service agreement.In one month,250 refrigerators are sold to customers who can be regarded as a random sample of all purchasers.
-What are the mean and standard error of the sampling distribution for the proportion of those who will purchase a service agreement?

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Definitions:

Economic Expansion

A period characterized by increased business activity and growth in the economy's overall output.

Aggregate Demand

The cumulative request for every type of good and service within an economy across different pricing points, throughout a particular timeframe.

Required Rate

The minimum return that investors expect to receive for investing in a particular asset, taking into account its risk.

Expected Growth Rate

The anticipated rate at which a company, asset, or investment is expected to grow over a certain period.