Use the following scenario to answer the next question. Historically, 93% of the deliveries of an overnight mail service arrive before 10:30 the following morning. Random samples of 500 deliveries are selected. So we have a "historic" (read: population) proportion of p = .93.
Also, n = 500.
What proportion of the samples will have more than 95% of the deliveries arriving before 10:30 the following morning? or less than 90% of the deliveries arriving before 10:30 the following morning?
Please give as much detail as possible as to how you come up with your answer. Or give the formula to input into excel or a TI84 calculator.