In a Simple Random Sample of Size 77 , There $\hat { p }$

question 39

Multiple Choice

In a simple random sample of size 77 , there were 37 individuals in the category of interest. Compute the sample proportion $\hat { p }$

• A) 0.481
• B) 0.519
• C) 114
• D) 0.925

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Definitions:

Opportunity Cost

Giving up possible gains from several options by choosing a particular one.

Bowed Outward

A description of the shape of a curve on a graph, such as the production possibilities frontier, indicating increasing opportunity costs.

Opportunity Cost

The penalty of dismissing the closest superior alternative when engaging in the process of decision-making.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology).