Pew Research Reported in 2013 That 15% of American Adults

question 82

Multiple Choice

Pew research reported in 2013 that 15% of American adults do not use the internet or e-mail. They report a margin of error of 2.3 percentage points. The meaning of that margin of error is:

• A) They are 2.3% confident that their confidence interval captures the true proportion of American adults that don't use the internet or e-mail.
• B) If they repeatedly sampled from the population, and constructed a confidence interval for each estimate, about 2.3% of those intervals would capture the proportion of American adults who don't use the internet or e-mail.
• C) They are pretty sure that the poll result differs from the actual percentage of American adults who don't use the internet or e-mail by 2.3% or less.
• D) There is a 2.3% probability that their estimate is incorrect.
• E) They estimate that 2.3% of those surveyed answered incorrectly.

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs—both variable and fixed—in the cost of goods sold, for product pricing.

Markup

The difference between the cost of a good or service and its selling price, expressed as a percentage of cost.

Selling Price

The cost at which a good or service is made available for purchase to consumers.

Traceable Fixed Expense

Fixed costs that can be directly linked to a specific business segment or product line.