Suppose the probability is p = 0.32 that a person who purchases an instant lottery ticket wins money, and this probability holds for every ticket purchased. Consider different random samples of n = 34 purchased tickets. Let p̂ = sample proportion of winning tickets in a sample of 34 tickets.
(a) Give the numerical value of the mean of the sampling distribution of p̂. (Round your answer to two decimal places.)
Mean =
(b) Calculate the standard deviation, s.d. of the sampling distribution of p̂. (Round your answer to two decimal places.)
s.d.(p̂) =
(c) Use the Empirical Rule to find values that fill in the blanks in the following sentence. (Round your answers to two decimal places.)
In about 68% of all randomly selected samples of n = 34 instant lottery tickets, the proportion of tickets that will be money winners will be between and .
(d) Use the Empirical Rule to find values that fill in the blanks in the following sentence. (Round your answers to two decimal places.)
In about 95% of all randomly selected samples of n = 34 instant lottery tickets, the proportion of tickets that will be money winners will be between and .