Assignment:
Roper ASW conducted a survey to learn about American adults' attitudes toward money and happiness (Money October 2003). Fifty-six percent of the respondents said they balance their checkbook at least once a month.
a. Suppose a sample of 400 American adults were taken. Show the sampling distribution of the proportion of adults who balance their checkbook at least once a month.
b. What is the probability that the sample proportion will be within ±.02 of the population proportion?
c. What is the probability that the sample proportion will be within ±.04 of the population proportion?
Provide complete and step by step solution for the question and show calculations and use formulas.