Answer
$P(pĖ\leq 0.25) = 0.0244$. This implies that about 2 out of 100 samples of size n = 500 will have 25% or fewer individuals who do not have a credit card. This is unusual as p < 0.05.
Work Step by Step
In a random sample of 500 adults, we have 125 or fewer without a credit card:
$\hat p=\frac{125}{500}=0.25$
$z=\frac{\hat p-\mu_p}{\sigma_p}=\frac{0.25-0.29}{0.02029}=-1.98$
$P(Z
