Question

What is the probability that in the sample, fewer than 39% are more likely to buy stock in a company based in Country A, or shop at its stores, if it is making an effort to publicly talk about how it is becoming more sustainable? The probability is 50%. (Round to two decimal places as needed.) b. What is the probability that in the sample, between 37% and 41% are more likely to buy stock in a company based in Country A, or shop at its stores, if it is making an effort to publicly talk about how it is becoming more sustainable? The probability is %. (Round to two decimal places as needed.)

Answer 1

The probability that in the sample fewer than 39% of people are more likely to buy stock in a company located in Country A or shop at its stores is negligible.

Step-by-step explanation:

To find the probability that in the sample fewer than 39% are more likely to buy stock in a company based in Country A or shop at its stores, we can use the normal distribution. Since the probability is given as 50%, the mean and standard deviation can be calculated using the formula:

mean = p * n = 0.39 * 250 = 97.5

standard deviation = sqrt(p * (1 - p) * n) = sqrt(0.39 * 0.61 * 250) = 9.36

To calculate the probability that fewer than 39% are more likely, we can use the z-score formula:

z = (x - mean) / standard deviation

Substituting in the values for x = 39%, mean = 97.5, and standard deviation = 9.36, we get:

z = (0.39 - 97.5) / 9.36 = -10.26

Using a z-table or a calculator, we find that the probability corresponding to a z-score of -10.26 is approximately 0. This means that the probability of fewer than 39% being more likely is negligible.