A Random Sample of 225 Items from a Population Results

question 17

Multiple Choice

A random sample of 225 items from a population results in 60% possessing a given characteristic.Using this information, the researcher constructs a 99% confidence interval to estimate the population proportion.The resulting confidence interval is _______.

• A)0.54 to 0.66
• B)0.59 to 0.61
• C)0.57 to 0.63
• D)0.52 to 0.68
• E)0.68 to 0.76

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Definitions:

Money Income

The total amount of monetary earnings or revenue received by an individual or a household over a specified period.

Budget Line

A graphical representation showing all possible combinations of goods that can be purchased with a given budget.

Budget Line

It represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.