SCENARIO 8-8 the President of a University Would Like to Estimate the Estimate

question 111

Short Answer

SCENARIO 8-8
The president of a university would like to estimate the proportion of the student population that owns a personal computer.In a sample of 500 students,417 own a personal computer.
-Referring to Scenario 8-8,the sampling error of a 99% confidence interval for the proportion of the student population who own a personal computer is .

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Definitions:

Critical Value

A threshold value in hypothesis testing, beyond which we reject the null hypothesis in favor of the alternative hypothesis.

P-Value

A measure in statistical hypothesis testing that helps in determining the significance of the results.

Null Hypothesis

The hypothesis that there is no effect or no difference, serving as the default assumption in hypothesis testing.

Marginal Propensity

The fraction or portion of an additional amount of income that is spent on consumption, saving, or other economic activities.