In the Equation for Calculating a Confidence Interval for a Proportion

question 5

Multiple Choice

In the equation for calculating a confidence interval for a proportion, $p \pm z _ { a / 2 } \sqrt { \frac { p ( 1 - p ) } { n } }$ what does $\sqrt { \frac { p ( 1 - p ) } { n } }$ represent?

• A) the mean for the sampling distribution of the proportion
• B) the degree of freedom for the sampling distribution of the proportion
• C) the standard error for the sampling distribution of the proportion
• D) the estimator for sampling distribution of the proportion

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Definitions:

External Costs

External costs are expenses that are not borne by the individuals or organizations responsible but rather by society as a whole, often involving negative environmental impacts.

Efficient Level

The point at which a system operates at maximum capacity without waste, producing optimal output with the lowest input.

Profit-Maximizing

A strategy or process used by firms to determine the output level and pricing that yields the highest possible profit.

Negative Externality

An adverse effect on a third party not directly involved in an economic transaction, often leading to market failure if not properly addressed.