A Gallup survey is March 2005 indicated that 75% of 18 to 29 year olds would prefer to start their o
Question: A Gallup survey is March 2005 indicated that 75% of 18 to 29 year olds would prefer to start their own business rather than work for someone else. Suppose a random sample of 600 18 to 29 year olds is obtained.
a) Describe the sampling distribution of p, the sample of 18 to 29 year olds who would prefer to start their own business.
b) In a random sample of 18 to 29 year olds, what is the probability that no more than 70% would prefer to start their own business.
c) Would it be unusual if a random sample of 18 to 29 year olds resulted in 475 or more who would prefer to start their own business?
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