The Width of a Confidence Interval Estimate for a Proportion

question 73

Multiple Choice

The width of a confidence interval estimate for a proportion will be

• A)narrower for 99% confidence than for 95% confidence.
• B)wider for a sample size of 100 than for a sample size of 50.
• C)narrower for 90% confidence than for 95% confidence.
• D)narrower when the sample proportion is 0.50 than when the sample proportion is 0.20.

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Definitions:

High Volume

A reference to the large quantity of transactions, activities, or units moved or processed in a given time period, often used in trading and sales contexts.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period. It measures the efficiency of inventory management.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, critical for calculating cost of goods sold (COGS) and ending inventory.

Understated

A term used to describe financial statements or figures that are reported to be less than the actual amounts.