Mathematics, 25.06.2020 02:01 baches
In 2007, about 30% of new-car purchases in California were financed with a home equity loan. [Source: "Auto Industry Feels the Pain of Tight Credit, " The New York Times, May 27, 2008.] The ongoing process of new-car purchases in California can be viewed as an infinite population. Define p as the proportion of the population of new-car purchases in California that are financed with a home equity loan. The true population value of p is not known, but for the sake of this exercise assume that p = .30. You will calculate an estimate of p by drawing a random sample of 50 new-car purchases made in California. If the purchase was financed with a home equity loan, you record a value of Yes for the variable Home Equity. If the purchase was not financed with a home equity loan, you record a value of No for the variable Home Equity. Since the population is infinite, an infinite number of samples can be drawn from the population. The sample data for the variable Home Equity for 15 random samples (of size n = 50) that could be pulled from the population are in the data set samples. (Each value of Home Equity is a random selection from a binomial population with p = .30.) If the sample you select for your statistical study is one of the 1, 000 samples we drew in our repeated sampling, the worst-luck sample you could draw is ___. The mean of the sampling distribution of p is ___. The mean of the approximation of the sampling distribution obtained from repeated sampling is ___. The standard deviation of the sampling distribution of p is ___. The standard deviation of the approximation of the sampling distribution obtained from repeated sampling is ___
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In 2007, about 30% of new-car purchases in California were financed with a home equity loan. [Source...
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