L Let $Y$ Be a Bernoulli Random Variable with Success Probability $\operatorname { Pr } ( Y = 1 ) = p$

question 21

Essay

L Let $Y$ be a Bernoulli random variable with success probability $\operatorname { Pr } ( Y = 1 ) = p$ , and let $Y _ { 1 } , \ldots , Y _ { n }$ be i.i.d. draws from this distribution. Let $\hat { p }$ be the fraction of successes (1s) in this sample. Given the following statement
$$\operatorname { Pr } ( - 1.96 < z < 1.96 ) = 0.95$$
and assuming that $\hat { p }$ being approximately distributed $N \left( p , \frac { p ( 1 - p ) } { n } \right)$ , derive the $95 \%$ confidence interval for $p$ by solving the above inequalities.

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Definitions:

Activity-Based Costing

A costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Overhead

Ongoing expenses related to the operation of a business that are not directly tied to specific product production.

Just-In-Time

Just-In-Time is a supply chain management strategy aimed at reducing inventory costs by receiving goods only as they are needed in the production process.

Pull Approach

A marketing strategy where demand is created through consumer interest, leading them to seek out a product or brand.