The Chairman of a Statistics Department in a Certain College $\pi$

question 83

Short Answer

The chairman of a statistics department in a certain college believes that 70% of the department's graduate assistantships are given to international students.A random sample of 50 graduate assistants is taken.Assume that the chairman is correct and that $\pi$
= 0.70.What is the probability that the sample proportion p will be between 0.65 and 0.73?

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Definitions:

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price within a certain period.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price.

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product.

Demand Decrease

A situation where the quantity of a product or service desired by buyers decreases, usually due to changes in consumer preferences, incomes, or prices of related goods.