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24 January, 10:55

According to a study conducted in one city, 34% of adults in the city have credit card debts of more than$2000. A sample n=300 is obtained from the city. Describe the sampling distribution of p hat?

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  1. 24 January, 13:19
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    p hat≈N (0.34,0.0273)

    Step-by-step explanation:

    Given information p=0.34

    Number of random samples=300

    The sampling distribution of p hat is

    p∧≈N (0.34,/sqrt{/frac{0.34 (1-0.34) }{300}})

    ≈N (0.34,0.0273)
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