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:

Money Demand Curve

A graph showing the relationship between the quantity of money demanded and the interest rate.

Nominal Interest Rate

The interest rate before adjustments for inflation, representing the face value of money borrowed or saved.

Price Level

A measure of the average prices of goods and services in an economy at a given time; often compared over time to analyze inflation or deflation.

Flow Variable

An economic measurement that describes quantities which are measured over a specified period of time, such as income, expenses, or investment.