Answer:
• Mean = 0.8
,• Standard Deviation = 0.02
Explanation:
(a) Mean
Out of 400 people, the survey results showed that 320 liked the new product.
[tex]\begin{gathered} Mean,p=\frac{320}{400} \\ p=0.8 \end{gathered}[/tex]The mean of the sample proportion is 0.8.
(b)Standard Deviation
The standard deviation of the sample proportion is calculated using the formula:
[tex]\begin{gathered} \sigma_p=\sqrt{\frac{p\left(1-p\right)}{n}} \\ =\sqrt{\frac{0.8\left(1-0.8\right)}{400}} \\ =\sqrt{\frac{0.8\times0.2}{400}} \\ =0.02 \end{gathered}[/tex]The standard deviation of the sample proportion is 0.02.
