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The marketing manager for the print division of Publishing and Broadcasting Limited claims that 23% of university students regularly read the Bulletin magazine

Economics Oct 03, 2020

The marketing manager for the print division of Publishing and Broadcasting Limited claims that 23% of university students regularly read the Bulletin magazine. A survey of 240 students showed that only 43 students read the Bulletin regularly. Assuming the manager's claim is correct, determine (to 4 decimal places): 1. the standard error for the sampling distribution of the proportion. 0.0272 2. the probability that the sample proportion is no more than that found in the survey.

Expert Solution

The standard error (SE) of a statistic is the approximate standard deviation of a statistical sample population. The standard error is a statistical term that measures the accuracy with which a sample distribution represents a population by using standard deviation. In statistics, a sample mean deviates from the actual mean of a population—this deviation is the standard error of the mean.The sample proportion is a random variable: it varies from sample to sample in a way that cannot be predicted with certainty.

For, Sample proportion, p,σp=sqrt [ P(1 - P) / n ]


in this case,

Proportion of successes in population, P=.23

Number of observations in the sample,n=240

  sample deviation, σp=sqrt [ P(1 - P) / n ]

=sqrt[.23(1-.23)/240]

=sqrt[1.771/240]

=sqrt[.000738]

=.0272

B) Z= ( pˆ- μPˆ)/ σp =  (pˆ-P ) / (sqrt [ P(1 - P) / n ])

P = 43/240=0.1792

the probability that the sample proportion is no more than that found in the survey

i.e Pr<=P.

Pr(P<=.1792)= Pr(Z<=(.1792-.23)/0.0272)

=Pr(z<=-1.87)

From the probability table given below,we can find the value of Pr(z<=-1.87)

i.e the probability that the sample proportion is no more than that found in the survey

equals to .0307 please see the attached file.

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