Verizon Wireless Would Like to Estimate the Proportion of Households

question 90

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 margin of error for a 90% confidence interval for the proportion based on this sample is ------.

• A)0.0561
• B)0.0627
• C)0.0333
• D)0.0475

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Definitions:

Transaction Costs

Expenses incurred when buying or selling goods and services, which can include fees, taxes, and other charges.

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Transaction Costs

The expenses incurred when buying or selling goods or services, beyond the price of the goods.

Opportunity Cost

The value of the next best alternative forgone as the result of making a decision.