Find the probability that more of group spent more than 1200

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Reference no: EM13255366

In 1995 the median price of a pc was 1200. Suppose that a random sample of of 100 persons who bought their pcs during that year, and record amount spent by each of them on his/her pc. State the approximate sampling distribution of theta hat, the proportion of persons who spent more than 1200 on a pc. Find the probability that more than 60% of this group spent more than 1200.

Reference no: EM13255366

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