In an Interval Estimation for a Proportion of a Population

question 128

Multiple Choice

In an interval estimation for a proportion of a population, the critical value of Z at 99.2% confidence is

• A)2.65
• B)2.44
• C)1.96
• D)1.645

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values, indicating how much the numbers in a dataset differ from the mean or average.

Corporate Rate

A specially negotiated price for services, typically offered to businesses or organizations for their employees or members.

Revenue Management

An economic strategy to optimize income by predicting consumer behavior at the micro-market levels and adjusting product availability and price.

Goods Combinations

The mix of different products or services that a company offers, taking into account how different items complement or substitute for one another.