Which of the Following Statements Is True About the Confidence

question 5

Multiple Choice

Which of the following statements is true about the confidence interval for a population proportion?

• A)The confidence interval for a proportion will always contain the true population proportion.
• B)It is equal to the sample proportion plus or minus a calculated amount called the margin of error.
• C)It is equal to the population proportion plus or minus a calculated amount called the standard error.
• D)The confidence interval for a proportion does not need a specified confidence level.

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Definitions:

12-month Period

A 12-month period typically refers to a full year, used in financial reporting and analysis to compare performance or changes over the span of a year.

Income Summary Account

A temporary account used in the closing process to summarize the period's revenues and expenses before transferring the net income or loss to retained earnings.

Permanent Accounts

Permanent accounts refer to the balance sheet accounts whose balances are carried over into the next accounting period, including assets, liabilities, and equity accounts.

Revenue Recognition Principle

An accounting principle that dictates the specific conditions under which revenue is recognized or recorded, ensuring it's captured in the period it is earned.