A University Dean Is Interested in Determining the Proportion of Students

question 13

Multiple Choice

A university dean is interested in determining the proportion of students who receive some sort of financial aid. Rather than examine the records for all students, the dean randomly selects 200 students and finds that 118 of them are receiving financial aid. Use a 95 % confidence interval to estimate the true proportion of students on financial aid. Express the answer in the form $\hat { p } \pm E$ and round to the nearest thousandth.

• A) \(0.59 \pm 0.068\)
• B) \(0.59 \pm 0.002\)
• C) \(0.59 \pm 0.474\)
• D) \(0.59 \pm 0.005\)

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Definitions:

Demand for Money

The desire or need by individuals and businesses to hold liquid assets, primarily currency and demand deposits, for transactional, precautionary, and speculative purposes.

Nominal GDP

Nominal Gross Domestic Product refers to the market value of all final goods and services produced within a country in a given period, measured in current market prices.

Expansionary Monetary Policy

A monetary policy strategy used by central banks to increase the money supply to stimulate economic growth, typically by lowering interest rates.

Aggregate Expenditure

The total spending on final goods and services in an economy over a specific time period, including consumption, investment, government purchases, and net exports.