The Sample Proportion $\hat { P }$ Is a Consistent Estimator of the Population Proportion P Because

question 124

True/False

The sample proportion $\hat { P }$ is a consistent estimator of the population proportion p because it is unbiased and the variance of $\hat { P }$ is p(1- p)/ n,which grows smaller as n grows larger.

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Definitions:

Environmental Forces

External factors that impact an organization's ability to operate, including economic, political, legal, technological, and cultural elements.

Uncontrollable Factors

External elements that influence business operations and success, over which the company has no control, such as economic conditions, social trends, and natural disasters.

Marketing Mix

A mix of elements that a company can manage to sway customer buying behavior, consisting of product, price, place, and promotion.

Consumer

An individual who purchases goods or services for personal use rather than for manufacturing or resale.