In Selecting the Sample Size to Estimate the Population Proportion $\hat { p }$

question 29

Multiple Choice

In selecting the sample size to estimate the population proportion p, if we have no knowledge of even the approximate values of the sample proportion $\hat { p }$ , we:

• A) take another sample and estimate p.
• B) take two more samples and find the average of their \(\hat { p }\) values.
• C) let \(\hat { p }\) = 0.50.
• D) let \(\hat { p }\) = 0.95.

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Definitions:

Increased Unemployment

A rise in the percentage of the labor force that is without work but available for and seeking employment.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, primarily the elderly, disabled, and unemployed.

Long-term Solvency

The ability of an entity, typically a government or business, to meet its long-term financial liabilities and obligations.

Low Birthrate

A situation where a country or region experiences a lower number of births, often leading to concerns about population decline and demographic aging.