A film distribution manager calculates that 9% of the films released are flops.   If the manager is right, what is the probability that the proportion of flops in a sample of 506 released films would differ from the population proportion by greater than 3%? Round your answer to four decimal places.

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter19: Externalities And Public Goods
Section: Chapter Questions
Problem 19.12P
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A film distribution manager calculates that 9% of the films released are flops.

 

If the manager is right, what is the probability that the proportion of flops in a sample of 506 released films would differ from the population proportion by greater than 3%? Round your answer to four decimal places.

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