A Population of Size 1,000 Has a Proportion of 0

question 77

Multiple Choice

A population of size 1,000 has a proportion of 0.5. Therefore, the proportion and the standard deviation of the sample proportion for samples of size 100 are

• A) 500 and 0.047.
• B) 500 and 0.050.
• C) 0.5 and 0.047.
• D) 0.5 and 0.050.

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Definitions:

Pure Monopoly

A market framework where there is only one provider offering a distinctive product without any closely resembling alternatives.

Increasing Profits

A financial strategy or outcome where a business experiences a growth in net earnings over time.

Lowering Price

A strategic move where a seller reduces the price of goods or services to attract more customers or beat competitors.

Monopolist

A market participant that is the sole seller of a good or service, thereby controlling the market.