THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable X follow a normal distribution with a mean of μ and a standard deviation of σ.Let
1 be the mean of a sample of 16 observations randomly chosen from this population,and
2 be the mean of a sample of 25 observations randomly chosen from the same population.
-Suppose that 15% of all invoices are for amounts greater than $1,000.A random sample of 60 invoices is taken.What is the mean and standard error of the sample proportion of invoices with amounts in excess of $1,000? What is the probability that the proportion of invoices in the sample is greater than 18%?

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable X follow a normal distribution with a mean of μ and a standard deviation of σ.Let  
 1 be the mean of a sample of 16 observations randomly chosen from this population,and  
 2 be the mean of a sample of 25 observations randomly chosen from the same population.
-Suppose that 15% of all invoices are for amounts greater than $1,000.A random sample of 60 invoices is taken.What is the mean and standard error of the sample proportion of invoices with amounts in excess of $1,000? What is the probability that the proportion of invoices in the sample is greater than 18%?

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable X follow a normal distribution with a mean of μ and a standard deviation of σ.Let  
 1 be the mean of a sample of 16 observations randomly chosen from this population,and  
 2 be the mean of a sample of 25 observations randomly chosen from the same population.
-Suppose that 15% of all invoices are for amounts greater than $1,000.A random sample of 60 invoices is taken.What is the mean and standard error of the sample proportion of invoices with amounts in excess of $1,000? What is the probability that the proportion of invoices in the sample is greater than 18%?