article The Average American Is in Credit Card Debt No

Last updated: 11/26/2023

article The Average American Is in Credit Card Debt No Matter the Economy reported that only 35 of credit card users pay off their bill every month Suppose that the reported percentage was based on a random sample of 2 000 credit card users You are interested in learning about the value of p the proportion of all credit card users who pay off their bill every month The following table is similar to the table that appears in Examples 8 4 and 8 5 and is meant to summarize what you know about the sampling distribution of p in the situation just described The What You Know information has been provided Complete the table by filling in the How You Know It column What You Know The sampling distribution of p is centered at the actual but unknown value of the population proportion An estimate of the standard deviation of p which describes how much the p values spread out around the population proportion p is 0 011 p Hp p p X P Hp P p 0 35 1 0 35 2 000 Hp V H V 0 35 10 35 2 000 0 35 1 0 35 2 000 0 35 1 0 35 2 000 0 35 1 0 35 2 000 How You Know It largo A ANOTHER and n is not too close to 0 or 1