Verizon Wireless Would Like to Estimate the Proportion of Households

question 46

Multiple Choice

Verizon Wireless would like to estimate the proportion of households that use cell phones for their phone service without a land line. A random sample of 150 households was selected and 48 relied strictly on cell phones for their service. The approximate standard error of the proportion for this sample is _______.

• A)0.0381
• B)0.0419
• C)0.0580
• D)0.0225

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Definitions:

Incremental Effect

The impact of a particular decision on a company's finances, considering only the changes that directly result from the decision.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.

Fixed Expenses

Costs that do not change in total regardless of changes in the level of business activity or volume.

Annual Cash Inflow

The total amount of money being received into a business from all sources over the course of a year.