In Opposing the Establishment of a New Bank in a Community

question 4

Short Answer

In opposing the establishment of a new bank in a community an existing bank stated that the area to be served by the proposed bank contained 75 percent of its accounts.An economic consulting firm randomly sampled the households to determine the sample proportion,p,which had accounts at the existing bank.The sample size was 225.Find the probability that p is:
A)Less than 69 percent.
B)More than 78 percent.
C)Within 0.05 of the true proportion stated as 0.75.

• A)Less than 69 percent.
• B)More than 78 percent.
• C)Within 0.05 of the true proportion stated as 0.75.

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Definitions:

Proportioning Valve

A valve in a vehicle's brake system that regulates the pressure between the front and rear brakes to prevent rear wheel lockup during braking.

Metering Valve

A type of combination brake system valve that introduces a slight delay in the application of the front disc brakes in relation to the rear drum brakes. This allows more balanced braking and better vehicle control. See alsoproportioning valves.

Junction

A point where two or more roads or electrical circuits meet or cross.

Pressure Differential Valve

A valve used in hydraulic systems to maintain a constant pressure difference between two points, often used in braking systems.