Suppose a random sample of 350 is taken from a lot of parts produced by a small manufacturer. If the probability that a part meets the customer’s specification is 0.75, determine the following.
The mean of the sampling distribution of the proportion for random samples of size 350.
The standard deviation of the sampling distribution of the proportion for random samples of size 350.
How is this sampling distribution distributed?
Find the probability that a simple random sample of 350 parts will have a proportion of at least 0.735 good parts.