For Any Population Proportion P, the Sampling Distribution of

question 107

True/False

For any population proportion p, the sampling distribution of will be approximately normal if the sample size n is sufficiently large. As a general guideline, the normal distribution approximation is justified when np ≥ 5 and n(1 − p) ≥ 5.

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Definitions:

Creditor

An individual or institution to which money is owed.

Expense

A financial outlay that is incurred through business operations or activities.

Equipment

Tangible, long-term assets used in the operations of a business, not intended for sale.

Supplies

Supplies are consumable items used in the everyday operations of a business, such as office materials, that are not resold to customers.