Question

12 pts Question 4 The National Association of Realtors reports that 30% of homes purchased in 2017 were investment or vacation properties (http://economistsoutlook.blogs.realtor.org/2017). Describe the sampling distribution of p for samples of size 42 by completing the following statements. Select] 1. The mean of the sampling distribution of p is Hj - Select il. The standard deviation of the sampling distribution of piso = since [Select] ill. The shape of the sampling distribution of pis (Select]

Answer 1

p = 0.3, n = 42

i) the mean of the sampling distribution of p_hat is mu_p is equal to p = 0.3

ii) The standard deviation of the sampling distribution of p_hat is sigma_p is given by (p*(1 - p) / n)^(1/2)

So, sigma_p = (0.3*0.7/42)^(1/2) = 0.07071068

iii) The shape of the sampling distribution of p_hat is approximately normal since n is large.

the answers of the (iii) part may be different from mine but they surely will be derivatives of my answers