It Is Estimated That the Proportion of Californians in Favor

question 7

Multiple Choice

It is estimated that the proportion of Californians in favor of Proposition 5 is between 0.4 and 0.6.The sponsors of the proposition would like to sample Californians and get a 95 percent confidence interval for the true proportion of people in favor of Proposition 5.They want to restrict the error level to 5 percentage points.The required sample size is then

• A)400.
• B)40.
• C)100.
• D)1,000.
• E)none of the above.

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Definitions:

Equilibrium Wages

The payment rate at which the provision of labor matches the request for labor.

Short-Order Cooks

Cooks who specialize in preparing food quickly and efficiently, often in diners and fast-food establishments, responding rapidly to customer orders.

Market Price

The price at which a good or service is offered in the marketplace, determined by supply and demand.

Demand for Workers

The total amount of labor or workforce that employers are willing and able to hire at a given wage rate and time.