Suppose Absolute Purchasing Power Parity Holds $\le$ 04825 Per Dollar $\le$ 1,180
B)

question 273

Multiple Choice

Suppose absolute purchasing power parity holds. The exchange rate between British pounds and Canadian dollars is $\le$ 0.4825 per dollar. If a computer costs $2,995 in Canada, how much should it cost in Britain?

• A) \(\le\)1,180
• B) \(\le\)1,445
• C) \(\le\)1,576
• D) \(\le\)2,995
• E) \(\le\)6,207

---

Definitions:

Point Estimate

A single value or statistic used to estimate an unknown population parameter based on sample data.

Population Mean

The mean value of every number within a given population.

Population Proportion

The fraction or percentage of a population that displays a particular attribute or characteristic.

Margin of Error

A measure indicating the range of values above and below a sample statistic in a confidence interval.