Answer:
95.86% probability that the sample proportion will differ from the population proportion by less than 3%
Explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean
and standard deviation
, the zscore of a measure X is given by:
![Z = (X - \mu)/(\sigma)](https://img.qammunity.org/2021/formulas/mathematics/college/c62rrp8olhnzeelpux1qvr89ehugd6fm1f.png)
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
![p = 0.07](https://img.qammunity.org/2021/formulas/mathematics/college/lljbxoe9l2y4gmkx753m74c4u288axsydm.png)
For a proportion, we have that:
![\mu = p = 0.07](https://img.qammunity.org/2021/formulas/mathematics/college/3pilbxthj6yydrsfytc5gl4kuuh498qyxh.png)
![\sigma = \sqrt{(p(1-p))/(n)} = \sqrt{(0.07*0.93)/(300)} = 0.0147](https://img.qammunity.org/2021/formulas/mathematics/college/52eayr8v9vak23nc8pfhy71fujpaph46at.png)
What is the probability that the sample proportion will differ from the population proportion by less than 3%
This is the pvalue of Z when X = 0.07 + 0.03 = 0.1 subtracted by the pvalue of Z when X = 0.07 - 0.03 = 0.04. So
X = 0.1
![Z = (X - \mu)/(\sigma)](https://img.qammunity.org/2021/formulas/mathematics/college/c62rrp8olhnzeelpux1qvr89ehugd6fm1f.png)
![Z = (0.1 - 0.07)/(0.0147)](https://img.qammunity.org/2021/formulas/mathematics/college/7snliqpa08s3skfieo4tmayh72xz3759rk.png)
![Z = 2.04](https://img.qammunity.org/2021/formulas/mathematics/college/mxjdio1f8g6kpmdlusvkt1f6i3e48runeq.png)
has a pvalue of 0.9793
X = 0.04
![Z = (X - \mu)/(\sigma)](https://img.qammunity.org/2021/formulas/mathematics/college/c62rrp8olhnzeelpux1qvr89ehugd6fm1f.png)
![Z = (0.04 - 0.07)/(0.0147)](https://img.qammunity.org/2021/formulas/mathematics/college/zswilzr83o19ldh5vbnvriaa84lh2iz673.png)
![Z = -2.04](https://img.qammunity.org/2021/formulas/mathematics/college/g7o8ihp141rqcmk3uyyuzpl1cxrgy18ukv.png)
has a pvalue of 0.0207
0.9793 - 0.0207 = 0.9586
95.86% probability that the sample proportion will differ from the population proportion by less than 3%