8. a local bank polls every twentieth customer to determine if they are satisfied with the helpfulness of…

8. a local bank polls every twentieth customer to determine if they are satisfied with the helpfulness of the bank. forty customers are surveyed and 26 are satisfied. what conclusion can be drawn for the 800 daily customers? f. 65% of the customers are unsatisfied with the helpfulness of the bank g. 26% of the customers are unsatisfied with the helpfulness of the bank h. 40% of the customers are satisfied with the helpfulness of the bank j. of the 800 customers, 520 would be satisfied with the helpfulness of the bank

8. a local bank polls every twentieth customer to determine if they are satisfied with the helpfulness of the bank. forty customers are surveyed and 26 are satisfied. what conclusion can be drawn for the 800 daily customers? f. 65% of the customers are unsatisfied with the helpfulness of the bank g. 26% of the customers are unsatisfied with the helpfulness of the bank h. 40% of the customers are satisfied with the helpfulness of the bank j. of the 800 customers, 520 would be satisfied with the helpfulness of the bank

Answer

Explanation:

Step1: Calculate satisfaction - rate in sample

The satisfaction - rate in the sample of 40 customers is calculated by the formula $\text{Satisfaction Rate}=\frac{\text{Number of Satisfied Customers}}{\text{Total Number of Customers in Sample}}\times100%$. Here, the number of satisfied customers is 26 and the total number of customers in the sample is 40. So, $\text{Satisfaction Rate}=\frac{26}{40}\times100% = 65%$.

Step2: Estimate number of satisfied customers in population

We assume that the proportion of satisfied customers in the sample is the same as the proportion in the population of 800 daily customers. Let $x$ be the number of satisfied customers in the population of 800 customers. We set up a proportion: $\frac{26}{40}=\frac{x}{800}$. Cross - multiply gives $40x = 26\times800$. Then $x=\frac{26\times800}{40}=520$.

Answer:

J. Of the 800 customers, 520 would be satisfied with the helpfulness of the bank