To Compute the Necessary Sample Size for an Interval Estimate

question 41

Multiple Choice

To compute the necessary sample size for an interval estimate of a population proportion, all of the following procedures are recommended when p is unknown except​

• A) ​use the sample proportion from a previous study.
• B) ​use the sample proportion from a preliminary sample.
• C) ​use 1.0 as an estimate.
• D) ​use judgment or a best guess.

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Definitions:

Domestic Opportunity Cost

The cost of forgoing the best alternative use of resources within a country.

Producing

The act of creating goods or services through the combination of labor, materials, and technology.

Comparative Advantage

The ability of an individual, firm, or country to produce a particular good or service at a lower opportunity cost than others.