(Step-by-Step) In June 2001, a referendum was held in North Dakota. The question was whether to reverse a previous legislative action which allowed banking
Question: In June 2001, a referendum was held in North Dakota. The question was whether to reverse a previous legislative action which allowed banking companies to employ an opt-out policy regarding their right to sell or otherwise make available information about customers to other companies. An opt-out policy basically forces the customers to actively ask not to have their information distributed by the bank. An opt-in policy forces the banks to ask for permission and not to distribute information unless the customer explicitly says it is okay. In the vote, the legislative action was overturned on a vote of 70% in favor of going back to the previous opt-in law. This action was, to say the least, disappointing to the banks. Suppose the views of the voters of North Dakota are in fact fairly universal, and that a SRS of 2000 people are interviewed.
- What is the expected number of respondents who will agree with the banks? What is the variance?
- What is the probability that at least 1350 of the respondents will side with the majority of the voters of North Dakota?
Deliverable: Word Document 