The Following MINITAB Output Presents a Confidence Interval for a Proportion

question 1

Multiple Choice

The following MINITAB output presents a confidence interval for a proportion.
$\begin{array}{crrcc}\hline \text { Variable } & \mathrm{X} & \mathrm{N} & \text { Sample } \mathrm{p} & 95 \% \mathrm{CI} \\\mathrm{x} & 42 & 106 & 0.396226 & (0.303113,0.489339) \\\hline\end{array}$
Use the information in the display to construct a 98% confidence interval for p.

• A) \(( 0.286,0.507 )\)
• B) \(( 0.318,0.474 )\)
• C) \(( 0.303,0.489 )\)
• D) \(( 0.274,0.519 )\)

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Definitions:

FIFO

First-In, First-Out, an inventory valuation method where goods purchased first are sold first, affecting the cost of goods sold and ending inventory value.

Average Cost Method

An inventory valuation method that calculates the cost of goods sold based on the average cost of all items in stock.

Physical Flow

The actual movement or transfer of goods and materials through a production process or supply chain, distinct from the associated flow of costs or information.

Inflation

A general increase in prices and fall in the purchasing value of money, affecting the economy over time.