According to the Census Bureau, 64.5% of Americans owned their own home in 2013. A local real estate office wants to see if this is the case for its area. The office selects a
Random sample of 200 people to estimate the percentage who own their own homes. The
Standard deviation of the Normal model used to approximate this distribution is
A) 136
B) 64
C) 27.07
D) 6.767
E) 3.384

Question

Quizplus · Accepted Answer

To estimate the standard deviation of the sample proportion, we can use the formula:

standard deviation = sqrt [(p * (1-p)) / n]

where p is the population proportion (0.645) and n is the sample size (200).

Substituting these values, we get:

standard deviation = sqrt [(0.645 * 0.355) / 200] = 0.06767

So the answer is (D) 6.767, which is the closest option to the calculated value.