A Statistics Professor Asked Her Students Whether or Not They

question 16

Essay

A statistics professor asked her students whether or not they were registered to vote. In a sample of 50 of her students
(randomly sampled from her 700 students), 35 said they were registered to vote.

-What is the probability that the true proportion of the professor's students who were registered to vote is in your confidence interval?

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Definitions:

Network Effects

The phenomenon whereby increased numbers of people or participants improve the value of a good or service.

Economies Of Scale

The benefit that larger operations have, which allows them to produce goods or services at a lower unit cost as production scales up.

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at various prices.

Total Revenue

The sum of money a company earns from selling products or offering services over a specific time frame.