A Researcher Would Like to Learn About the Difference in Proportions

question 39

Essay

A researcher would like to learn about the difference in proportions of students and faculty who support textbook price caps. The researcher gathers a random sample of 500 students and 500 faculty members and asks whether or not they support textbook price caps. Of the 500 students, 378 say they support capping textbook prices and of the 500 faculty members 256 say they support capping prices.
a.Determine if the large sample confidence interval procedure can be used for estimation.
b.Create a 95% confidence interval for the difference of the population proportions.
c.Interpret the confidence interval.

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Definitions:

Express or Implied Authority

Power granted by a principal to an agent, which can be explicitly stated (express) or inferred from actions, circumstances, or job title (implied).

Disclosed Principal

In the realm of agency law, a principal whose identity the third party is aware of when the agent enters into a contract with that third party.

Unauthorized Contract

An agreement made by someone who does not have the legal right or power to do so on behalf of another person or entity.

Agent Lacks Authority

A situation where an agent acts outside of their given powers, potentially making their actions unbinding on the principal.