A Random Sample of 100 People Was Taken

question 30

Multiple Choice

A random sample of 100 people was taken. Eighty-five of the people in the sample favored Candidate A. We are interested in determining whether or not the proportion of the population in favor of Candidate A is significantly more than 80%. At the .05 level of significance, it can be concluded that the proportion of the population in favor of candidate A is

• A) significantly greater than 80%.
• B) not significantly greater than 80%.
• C) significantly greater than 85%.
• D) not significantly greater than 85%.

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Definitions:

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets.

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government.

Consolidated Income

The total net income of a parent company and its subsidiaries, after accounting for the ownership interest of noncontrolling shareholders.

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income.