Random Samples of Size 600 Are Taken from an Infinite

question 37

Multiple Choice

Random samples of size 600 are taken from an infinite population whose population proportion is 0.4. The standard deviation of the sample proportions (i.e., the standard error of the proportion) is

• A) 0.0004.
• B) 0.2400.
• C) 0.4000.
• D) 0.0200.

---

Definitions:

Surplus

An excess of supply over demand in a market, typically resulting in lower prices.

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Shortage

A scenario where the market's supply of a specific product or service is outstripped by consumer demand.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to a balance where there is no tendency for the price to change.