Based on historical data, your manager believes that 27% of the company's orders come from first-time customers. A random sample of 164 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.24? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.
Based on historical data, your manager believes that 27% of the company's orders come from first-time customers. A random sample of 164 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.24? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Based on historical data, your manager believes that 27% of the company's orders come from first-time customers. A random sample of 164 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.24?
Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.
Answer = (Enter your answer as a number accurate to 4 decimal places.)
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