a direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. suppose the true proportion is 0.04. if 259 are sampled, what is the probability that the sample proportion will differ from the population proportion by greater than 0.03? round your answer to four decimal places.

Answer :

The probability that the sample proportion will be GREATER than 0.03 = 0.9996

The standard deviation is defined ?

The standard deviation is a metric that reveals how much variance from the mean there is, including spread, dispersion, and spread. A "typical" variation from the mean is shown by the standard deviation. Because it uses the data set's original units of measurement, it is a well-liked measure of variability.

Given that,

The actual ratio is 0.04. What is the likelihood that a sample proportion of 259 will differ from the population proportion by more than 0.03?

Suppose the true proportion is 0.04 .

true proportion  = p = 0.04

q = 1 - p = 1 - 0.04 = 0.96  

n = 259

Standard deviation   =  [tex]\sqrt{p*q/n}[/tex]  =  .0121

the probability that the sample proportion will be GREATER than 0.03  =

[tex]p(p > 0.03)[/tex] = (z >5.785)

                 = 0.9996

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