When Determining the Sample Size for a Proportion for a Given

question 179

Multiple Choice

When determining the sample size for a proportion for a given level of confidence and sampling error, the closer to 0.50 that $\pi$ is estimated to be, the sample size required .

• A)is smaller
• B)is larger
• C)is not affected
• D)can be smaller, larger or unaffected

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Definitions:

Raw Materials

Fundamental materials that are used in the production process to create goods and products.

Prices of Raw Materials

The cost of basic materials used in the manufacture of products, which can affect production costs and pricing strategies.

Fiscal Policy

Government spending and taxation decisions designed to control inflation, reduce unemployment, improve the general welfare of citizens, and encourage economic growth.

Increased Taxes

A financial situation where a government raises the rates of taxes, affecting individuals or businesses.