Concept explainers
The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years or less and the age at first startup for 45% of entrepreneurs was 30 years or more.
a. Suppose a sample of 200 entrepreneurs will be taken to learn about the most important qualities of entrepreneurs. Show the sampling distribution of
b. What is the
c. Suppose a sample of 200 entrepreneurs will be taken to learn about the most important qualities of entrepreneurs. Show the sampling distribution of
d. What is the probability that the sample proportion in part (c) will be within
e. Is the probability different in parts (b) and (d)? Why?
f. Answer part (b) for a sample of size 400. Is the probability smaller? Why?
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Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
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