Carey is trying to decide between two guitars. The first had an original price of $160, but is on sale for $100. The second had
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Answer:
The probability of getting a sample with 80% satisfied customers or less is 0.0125.
Step-by-step explanation:
We are given that the results of 1000 simulations, each simulating a sample of 80 customers, assuming there are 90 percent satisfied customers.
Let = <u><em>sample proportion of satisfied customers</em></u>
The z-score probability distribution for the sample proportion is given by;
Z = ~ N(0,1)
where, p = population proportion of satisfied customers = 90%
n = sample of customers = 80
Now, the probability of getting a sample with 80% satisfied customers or less is given by = P( 80%)
P( 80%) = P(
) = P(Z
-2.24) = 1 - P(Z < 2.24)
= 1 - 0.9875 = <u>0.0125</u>
The above probability is calculated by looking at the value of x = 2.24 in the z table which has an area of 0.9875.