In a Local University, 10% of the Students Live in the Dormitories

question 77

Short Answer

In a local university, 10% of the students live in the dormitories. A random sample of 100 students is selected for a particular study.
a.What is the probability that the sample proportion (the proportion living in the dormitories) is between 0.172 and 0.178?
b.What is the probability that the sample proportion (the proportion living in the dormitories) is greater than 0.025?

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Definitions:

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

Behavioral Economists

Scholars who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Faulty Heuristics

Incorrect or misleading cognitive shortcuts that are used to make decisions or solve problems.