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30-10-2016
Mathematics

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According to creditcard.com, 29% of adults do not own a credit card. a. suppose a random sample of 500 adults is asked , " Do you own a credit card?" describe the sampling distribution of p, the proportion of adults who own a credit card?

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05-11-2016

If we ask 500 individuals whether they have credit card and if we consider the probability of people having a credit card being normally distributed, then we assume that, considering 30% do not have a credit card, everyone who is within 1SD of the mean will have a credit card, while the remaining ~15% on either tail of the distribution do not.

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