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A Gallup survey in March 2005 indicated that 72% of 18- to 29- year-olds if given a chance would prefer to start their own business rather than work for someone else. Suppose a random sample of 600 18- to 29-year-olds is obtained.
a) Describe the sampling distribution of ˆp , the sample proportion of 18- to 29-yearolds who would prefer to start their own business.
b) In a random sample of 600 18- to 29-year-olds, what is the probability that less than 70% would prefer to start their own business?
c) Would it be unusual if a random sample of 600 18- to 29-year-olds resulted in 450 or more who would prefer to start their own business?