The age distribution of householders is an important tool for marketer interested
(20 points) The age distribution of householders is an important tool for marketer interested in providing age-appropriate advertising for the particular product they wish to market. A study conducted by the Joint Center for Housing Studies estimates that, in 1995, 31% of all householders will be between 45 and 64. Suppose a sample of 500 is taken in 1995. (Hint: use the normal approximation to the binomial.)
(10 points) What is the probability that fewer than 135 householders will be between 45 and 64?