(1 point) A survey of all medium- and large-sized corporations showed that 62% of them offer retirement plans to their employees. Let $\hat{p}$ be the proportion of corporations that offer retirement plans to their employees in a random sample of 40 medium- and large-sized corporations. Find the probability that the value of $\hat{p}$ will be a. between 0.54 and 0.58. 0.1523 b. greater than 0.68. Note: Keep 4 decimal places in your answers.
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The mean of the population proportion is given as 0.62. The standard deviation of the population proportion can be calculated using the formula: σ = √(p(1-p)/n) where p is the population proportion (0.62) and n is the sample size (40). σ = √(0.62(1-0.62)/40) Show more…
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