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:

Direct Competition

A situation in which products that perform the same function compete against one another. Also called category competition or brand competition.

Primary Competition

Direct competitors offering similar products or services within the same market or industry, targeting the same customer base.

WTO

The World Trade Organization, an international body that regulates global trade rules among nations.

Global Membership

A concept involving individuals or entities from various countries around the world being part of an organization, club, or similar group, enabling a diverse and international community.