THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sales representative has 425 accounts.From a random sample of 60 of these accounts,she found that the average yearly order was $1,250 with a standard deviation of $70.She also found that 28 out of 60 in the sample have placed an order in the last four weeks.
-Estimate the proportion of all accounts that placed an order within the last four weeks.
A)0.683
B)0.218
C)0.467
D)0.356

Question

Quizplus · Accepted Answer

The proportion of accounts that placed an order in the last four weeks is estimated by the ratio of accounts that placed an order to the total number of accounts in the sample, which is 28/60 = 0.467.