A Random Sample of Size 100 Is Taken from a Population

question 112

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) 0.1539
• C) 0.3669
• D) 0.8461

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Definitions:

IMF

International Monetary Fund, an international organization aiming to foster global monetary cooperation, secure financial stability, and facilitate international trade.

Foreign Exchange

The global marketplace for buying and selling national currencies.

Purchasing Power Parity Theory

An economic theory that suggests that in the long term, exchange rates should adjust to equalize the price of identical goods and services in different countries.

Floating Exchange Rates

A system where the value of a currency is allowed to fluctuate according to the foreign exchange market without direct government control.