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A binomial experiment where p = .4 is conducted. Find the probability that in a sample of 60 the proportion of successes exceeds .35. 9.34 The proportion of eligible voters in the next election who will vote for the incumbent is assumed to be 55%. What is the probability that in a random sample of 500 voters less than 49% say they will vote for the incumbent? 9.35 The assembly line that produces an electronic component of a missile system has historically resulted in a 2% defective rate. A random sample of 800 components is drawn. What is the probability that the defective rate is greater than 4%? Suppose that in the random sample the defective rate is 4%. What does that suggest about the defective rate on the assembly line?
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If inflation was 10% in a particular year and you received a 20% increase in income during the same year, then over the year your: a) real and nominal income both fell. b...
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