Sample Proportion

question 47

True/False

$\text { The standarderrorof the sampling distributionof a sample proportionis } \sqrt { \frac { p ( 1 - p ) } { n } } \text { where } p \text { is the }$ sample proportion.

---

Definitions:

Break-even Point

The point at which total costs and total revenue are equal, meaning a business is not making a profit but also not incurring any losses.

Marginal Cost

The rise in overall expenses associated with the production of an extra unit of a good or service.

Marginal Revenue

The additional income generated from selling one more unit of a good or service, crucial in determining the most profitable level of production.

Average Total Cost (ATC)

The sum of all the production costs divided by the quantity of output produced, representing the per unit cost of production.