According to an Australian Government report, retail trade is the second largest employing industry in Australia with more than 1.2 million workers, or 10.5% of working Australians The report shows that the percentage of those employed in retail trade in November 2012 who were working part-time was 50%. Assuming this percentage is still current:
1. If you select a random sample of 400 Australian retail trade workers, what is the probability that the sample has between 45% and 50% who are employed part-time?
2. If a current sample of 400 Australian retail trade workers has 51.2% who are employed part-time, what can you infer about the population estimate of 50%? Explain.
3. If a current sample of 100 Australian retail trade workers has 51.2% who are employed part-time, what can you infer about the population estimate of 50%? Explain.
4. Explain the difference in the results in (2) and (3).