A Researcher Wants to Estimate the Proportion of the Manufacturing

question 9

Multiple Choice

A researcher wants to estimate the proportion of the manufacturing companies that use the six sigma method.For this purpose, she will take a random sample of 50 manufacturing companies and find out how many of them use this method.She estimates that the proportion will be anywhere from 0.4 to 0.55.Of all the proportions in that range, which one would produce the narrowest 95% confidence interval for the population proportion?

• A)0.4
• B)0.45
• C)0.5
• D)0.55
• E)0.6

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Definitions:

Cournot Output Choice

A model in economic theory where firms choose their output levels assuming competitors' outputs are fixed, aiming to maximize their own profit.

Pure Strategy Equilibrium

A concept in game theory where each player's chosen strategy provides the best outcome, given the strategies chosen by other players.

Nash Equilibrium

A situation in a strategic game where each player has chosen a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged.

Mixed Strategy

A game theory strategy where a player chooses between all possible actions at specified probabilities.