Final answer:
The sampling distribution of the sample proportion can be approximated by a normal distribution, in this case with a mean of 0.75 and a standard deviation of 0.01633. To calculate probabilities, use the normal distribution function to find the area under the curve for the desired range of values.
Step-by-step explanation:
The sampling distribution for the sample proportion can be approximated by a normal distribution, since the sample size is large enough and the observations are independent. The mean of the sampling distribution of the sample proportion is equal to the population proportion, which is 0.75 in this case, and the standard deviation is given by:
Standard deviation = sqrt((p * (1-p)) / n)
where p is the population proportion and n is the sample size.
Using the given information, we can calculate the standard deviation:
Standard deviation = sqrt((0.75 * (1-0.75)) / 500) ≈ 0.01633
a) To find the probability that at most 350 of the 500 residents will be over the age of 60, we need to find the area under the sampling distribution curve from 0 to 350. This can be calculated using the normal distribution function.
b) To find the probability that at least 350 of the 500 residents will be over the age of 60, we need to find the area under the sampling distribution curve from 350 to 500. This can also be calculated using the normal distribution function.
c) To find the probability that between 400 and 475 of the residents will be over the age of 60, we need to find the area under the sampling distribution curve from 400 to 475. Again, this can be calculated using the normal distribution function.