Answer:
The new rate should be $56.67 per day
Step-by-step explanation:
Proportion states that the two fractions or ratios are equal.
As per the statement:
Normal rate per day = $45
To find the new rate:
Let new rate be x per day
By definition of proportion:
By cross multiply we have;
Divide both sides by 100 we get;
Simplify:
x = $56.7
Therefore, the new rate should be $56.7 per day
Answer:
a) p-hat (sampling distribution of sample proportions)
b) Symmetric
c) σ=0.058
d) Standard error
e) If we increase the sample size from 40 to 90 students, the standard error becomes two thirds of the previous standard error (se=0.667).
Step-by-step explanation:
a) This distribution is called the <em>sampling distribution of sample proportions</em> <em>(p-hat)</em>.
b) The shape of this distribution is expected to somewhat normal, symmetrical and centered around 16%.
This happens because the expected sample proportion is 0.16. Some samples will have a proportion over 0.16 and others below, but the most of them will be around the population mean. In other words, the sample proportions is a non-biased estimator of the population proportion.
c) The variability of this distribution, represented by the standard error, is:
d) The formal name is Standard error.
e) If we divided the variability of the distribution with sample size n=90 to the variability of the distribution with sample size n=40, we have:
If we increase the sample size from 40 to 90 students, the standard error becomes two thirds of the previous standard error (se=0.667).