A Random Sample of Size 100 Is Taken from a Population

question 25

Multiple Choice

A random sample of size 100 is taken from a population described by the proportion p = 0.60. The probability that the sample proportion is less than 0.55 is ________.

• A) ≈0
• B) 0.1537
• C) 0.3669
• D) 0.8461

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Definitions:

Sarbanes-Oxley Act

A federal law in the United States enacted to protect investors by improving the accuracy and reliability of corporate disclosures.

Committee of Sponsoring Organizations

A voluntary private sector organization dedicated to providing guidance on risk management, governance, and internal control frameworks.

Cash Over

A situation where the amount of cash on hand is greater than the expected amount, indicating possible errors or oversight.

Cash Short

A situation where the actual cash on hand is less than the expected amount, often due to errors or theft.