A minority representation group accuses a major bank of racial discrimination in its recent hires for financial analysts. Exactly 16% of all applications were from minority members, and exactly 15% of the 2100 open positions were filled by members of the minority. a. Find the mean of p, where p is the proportion of minority member applications in a random sample of 2100 that is drawn from all applications.
b. Find the standard deviation of p.
c. Compute an approximation for P ( p leq 0.15), which is the probability that there will be 15% or fewer minority member applications in a random sample of 2100 drawn from all applications. Round your answer to four decimal places.