Use the Given Data to Find the Minimum Sample Size $\hat { p } \text { and } \hat { q }$

question 50

Multiple Choice

Use the given data to find the minimum sample size required to estimate the population proportion.
Margin of error: 0.008 ; confidence level: 98% $\hat { p } \text { and } \hat { q }$ unknown

• A) 22,184
• B) 10,384
• C) 21,207
• D) 20,308

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Definitions:

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.

Marginal Cost

The price of fabricating another unit of a good or service.

Marginal Revenue

The additional income produced through the sale of one more unit of a product or service.

Total Cost

The overall expense incurred in the production of goods or services, including both fixed and variable costs.