A Department Store Has Determined That 25% of All Their

question 103

Essay

A department store has determined that 25% of all their sales are credit sales.A random sample of 60 sales is selected.
a.What is the sampling distribution of?
b.What is the probability that the sample proportion will be greater than 0.30?
c.What is the probability that the sample proportion will be between 0.20 to 0.30?

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Definitions:

Title Fees

Fees associated with the transfer of ownership or establishing the title of a property, often incurred during buying or selling.

Property, Plant, Equipment

Tangible long-term assets used in the operation of a business, such as buildings and machinery.

Automobile Dealership

A business that sells new or used cars at the retail level, typically based on a dealership contract with an automaker or sales subsidiary.

Land Improvements

Enhancements to a plot of land such as landscaping, fencing, and utilities, which increase the property's value.