Discuss the following:
The president of Doerman Distributors, Inc., believes that 26% of the firm's orders come from first-time customers. A simple random sample of 80 orders will be used to estimate the proportion of first-time customers.
Q1: Assume that the president is correct and p = 0.26. What is the sampling distribution for this study?
Q2: Select a normal distribution because np and n(1-p) are both greater than 5A normal distribution because np and n(1-p) are both less than 5A non normal distribution.
Q3: What is the probability that the sample proportion will be between .20 and .40 (to 4 decimals)?
Q4: What is the probability that the sample proportion will be between .25 and .35 (to 4 decimals)?