# Economics (40)

A market research firm conducts telephone surveys with a 42% historical response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will be at least 150/400 = .375?

Calculate the probability to 4 decimals.

1. 👍
2. 👎
3. 👁
1. A market research firm conducts telephone surveys with a 42% historical response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will be at least 150/400 = 0.375?

P (149.5 < x)
μ = (n p) = 168
σ = √( n p q ) = 9.871
z = ( x - μ ) / σ
z = (149.5 -168)/9.871
z = -1.87
P (-1.87 < z) = 0.9693

1. 👍
2. 👎
2. .0987

1. 👍
2. 👎

## Similar Questions

1. ### BEH

Disadvantages of the following Naturalistic observation, Correlational research, Experimental Research,Surveys, and Case Studies. I have all the Advantages. PLease someone help me ASAP. thank u

2. ### statistics

You are a researcher for a professional research firm.Your firm has won a contract to do a study for an air travel industry publication

3. ### economics

A cloth producing firm in a perfectly competitive market has the following short-run total cost function: TC = 6000 + 400Q – 20Q2 + Q3. If the prevailing market price is birr 250 per unit of cloth, A. Should the firm produce at

4. ### Business

Please check my answers: 4) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities,

1. ### microeconomics

Market demand is given as QD = 200 – 3P. Market supply is given as QS = 2P + 100. Each identical firm has MC = 0.5Q and ATC = 0.25Q. What quantity of output will a typical firm produce? a.10 b.20 c.30 d.40 Market demand is given

2. ### business

Old Navy executives want to target an older crowd in order to increase the firm?s market share so they survey men and women ages 40 to 60 about how often and for what type of activities they wear casual clothing. This is an

3. ### Economics

Two firms produce the same good and compete against each other in a Cournot market. The market demand for their product is P = 204 - 4Q, and each firm has a constant marginal cost of \$12 per unit. MR1 = 204 - 8q1 - 4q2. Let q1 be

4. ### Micreoeconomics

1. Assume a perfectly competitive constant cost industry, currently in long-run equilibrium. Market demand in the industry is given by Q = 1500 - 25P. The short-run market supply curve is given by: Q = 15P - 100 for P B 10 = 0 for

1. ### Sociology

Why do Sociologist use Surveys and what type of data do they receive from survey research? What are the advantages and disadvantages of using surveys?

2. ### Financial Management

A firm's stock is selling for \$85, Dividend yield=5%. A 7% growth rate is expected for the common stock. The firm's tax rate is 32%. (question) What is the firm's cost of retained earnings? a)8.16% b)12.00% c)12.35% d)cannot be

3. ### Business

Pick any 3 firms to research. Based on Internet research on these companies, write a 500–750-word research paper proposing at least 3 marketing opportunities that you would strongly suggest that each firm pursue

4. ### managerial economics

The cost function for a firm is given by TC = 500 + Q2. The firm sells output in a perfectly competitive market and other firms in the industry sell at a price of \$100. a) What price should the manger of this firm put on its