When the Level of Confidence and Sample Proportion Remain

question 68

True/False

When the level of confidence and sample proportion remain the same,a confidence interval for a population proportion p based on a sample of n = 100 will be wider than a confidence interval for p based on a sample of n = 400.

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Definitions:

Output

The total amount of goods or services produced by a business, industry, or economy in a given period.

Price

The amount of money expected, required, or given in payment for something, reflecting its value or worth.

Marginal Revenue Product Schedule

A table or representation showing how the marginal revenue product of a factor of production varies as its quantity employed changes.

Land

In economics, land encompasses all natural resources used to produce goods and services, including not just agricultural land but also minerals, forests, and water.