A University Dean Is Interested in Determining the Proportion of Students

question 133

Multiple Choice

A university dean is interested in determining the proportion of students who receive some sort of financial aid. Rather than examine the records for all students, the dean randomly selects 200 students and finds that 118 of them are receiving financial aid. The 95% confidence interval for π is 0.59 ± 0.07. Interpret this interval.

• A) We are 95% confident that the true proportion of all students receiving financial aid is between 0.52 and 0.66.
• B) 95% of the students get between 52% and 66% of their tuition paid for by financial aid.
• C) We are 95% confident that between 52% and 66% of the sampled students receive some sort of financial aid.
• D) We are 95% confident that 59% of the students are on some sort of financial aid.

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Definitions:

Skill-based Pay Plans

Compensation systems that pay employees based on the range, depth, or complexity of their skills and knowledge, rather than their job title or position.

Job Evaluation

The process of analyzing and assessing various jobs systematically to ascertain their relative worth within an organization.

Job Status-based Rewards

Compensation or benefits given to employees based on their position or rank within an organization.

Bureaucratic Hierarchy

An organizational structure with clear levels of authority and a fixed set of rules and procedures to control operations and decision-making.