Part 1:
The shape of the sampling distribution of p can be determined using the following criteria:
- np(1-p) ≥ 10
- n ≤ 0.05N
Here, n=700, N=15000, and p=0.6.
np(1-p) = 700 * 0.6 * (1-0.6) = 168.
Since np(1-p) ≥ 10, the first criterion is met.
n/N = 700/15000 = 0.0467, which is less than 0.05. So the second criterion is also met.
Therefore, the sampling distribution of p is approximately normal.
The correct answer is (B) Approximately normal because n≤0.05N and np(1−p)≥10.
Part 2:
The mean of the sampling distribution of p is given by the formula:
μp = p = 0.6
Therefore, the mean of the sampling distribution of p is 0.6.
The answer is μp = 0.6.
Part 3:
The standard deviation of the sampling distribution of p is given by the formula:
σp = sqrt [ p(1-p) / n ]
Substituting the values, we get:
σp = sqrt [ 0.6 * (1-0.6) / 700 ]
σp = 0.026
Therefore, the standard deviation of the sampling distribution of p is 0.026.
The answer is σp = 0.026.