Question: Business and Management. A certain philanthropic organization funds one out of every ten grant proposals. Suppose a random sample of 300 grant proposals is obtained.
a. Find the probability that the sample proportion of funded grant proposals is less than 0.075.
b. Find the probability that the sample proportion of funded grant proposals is between 0.11 and 0.15.
c. If the funding rate increases, the board of directors may become concerned about resources being depleted. Suppose the actual sample proportion of funded grant proposals is 0.16. Is there any evidence to suggest that the funding rate has increased? Justify your answer.