In a Local University, 10% of the Students Live in the Dormitories

question 77

Short Answer

In a local university, 10% of the students live in the dormitories. A random sample of 100 students is selected for a particular study.
a.What is the probability that the sample proportion (the proportion living in the dormitories) is between 0.172 and 0.178?
b.What is the probability that the sample proportion (the proportion living in the dormitories) is greater than 0.025?

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Definitions:

Social Welfare

The well-being of a community in terms of health, prosperity, and happiness, often considered in economics and social policy decision-making.

Utility Function

A representation in economics of how a consumer ranks different goods or bundles of goods, based on the level of happiness, satisfaction, or utility they provide.

Whisky Consumption

The amount of whisky that is drunk or used within a specific period by individuals or groups.

Spaghetti Consumption

The quantity of spaghetti consumed over a given period, often used as an indicator in dietary or food economic studies.