TABLE 8-12 The President of a University Is Concerned That Illicit Drug

question 75

True/False

TABLE 8-12
The president of a university is concerned that illicit drug use on campus is higher than the 5% acceptable level. A random sample of 250 students from a population of 2000 revealed that 7 of them had used illicit drug during the last 12 months.
-Referring to Table 8-12, the president can be 90% confident that no more than 5% of the students at the university had used illicit drug during the last 12 months.

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Definitions:

Consideration

In contract law, consideration is the benefit or value that parties agree to exchange, which is necessary for a contract to be legally binding.

Enforceable Transactions

Legal agreements or contracts that can be upheld and compelled by law.

Graduate Fellowship

A form of financial support provided to graduate students to pursue their research or studies without the need for employment.

Binding Promise

A pledge or commitment that legally compels the promisor to fulfill the terms of the promise.