Math Problem Statement
The president of Doerman Distributors, Inc., believes that 28% of the firm's orders come from first-time customers. A random sample of 100 orders will be used to estimate the proportion of first-time customers. Assume that the president is correct and p = 0.28. What is the sampling error of p for this study? If required, round your answer to four decimal places.
Solution
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Math Problem Analysis
Mathematical Concepts
Statistics
Sampling Error
Proportions
Standard Error
Formulas
SE = sqrt(p(1 - p) / n)
Theorems
Central Limit Theorem (approximation for sample proportions)
Suitable Grade Level
Grades 10-12
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