TABLE 8-14 The President of a University Is Concerned That the Percentage

question 130

True/False

TABLE 8-14
The president of a university is concerned that the percentage of students who have cheated on an exam is higher than the 1% acceptable level. A confidential random sample of 1000 students from a population of 7000 revealed that 6 of them said that they had cheated on an exam during the last semester.
-Referring to Table 8-14, using on the 90% one-sided confidence interval, the president can be 95% confident that no more than 1% of the students at the university had cheated on an exam during the last semester.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the good.

Direct Labor Costs

Expenses associated with the wages and benefits of employees who directly work on the production of goods.

Cash Account

An account that tracks the amount of cash available to a business or individual.

Raw Materials Inventory

The total cost of all the materials kept in stock that have not yet been used in manufacturing.