Question

Wering is an international study by unilever reveals that 40% of consumers are choosing to buy from brands they believe are doing social or environmental good. suppose you select a sample of 150 consumers. what is the probability that in the sample fewer than 38% are choosing to buy from brands they believe are or environmental good? let p(z-0.5)=0.3085; p(z -0.04) = 0.4840; p(z < 0.5) = 0.6915; p(z < 0.04) = 0.5160.

a. 0.4840
b. 0.0400
c. 0.3085
d. 0.5160
e. none of the other choices is correct

Answer 1

To find the probability that in the sample fewer than 38% of consumers are choosing to buy from brands they believe are doing social or environmental good, we need to use the normal distribution.Option C is the correct answer.

Step-by-step explanation:

To find the probability that in the sample fewer than 38% of consumers are choosing to buy from brands they believe are doing social or environmental good, we need to use the normal distribution.

The sample proportion is a random variable that follows a normal distribution when the sample size is sufficiently large.

1. Convert the given percentage to a z-score using the standard normal distribution table. The formula is z = (p - p') / sqrt((p'*(1-p')) / n), where p is the given percentage, p' is the sample proportion, and n is the sample size.
2. Calculate the z-score using the provided values. In this case, p = 38%, p' = 40%, and n = 150.
3. Find the probability that the z-score is less than the calculated z-score using the standard normal distribution table. The answer is option (c) 0.3085.