SCENARIO 8-8 the President of a University Would Like to Estimate the Estimate

question 154

True/False

SCENARIO 8-8
The president of a university would like to estimate the proportion of the student population that owns a personal computer.In a sample of 500 students,417 own a personal computer.
-Referring to Scenario 8-8,a 90% confidence interval calculated from the same data would be narrower than a 99% confidence interval.

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Definitions:

Algorithms

Step-by-step procedures or formulas for solving problems, often employed in the fields of mathematics and computer science.

Availability Heuristic

A cognitive shortcut that depends on the first examples that spring to mind when one assesses a particular topic, concept, strategy, or choice.

Framing Effect

The influence of context or the way information is presented on how it is perceived and interpreted.

Representativeness Heuristic

A mental shortcut used for making decisions or judgments, where the likelihood of an event is estimated based on how much it resembles the typical case.