A Marketing Research Company Needs to Estimate Which of Two

question 72

Multiple Choice

A marketing research company needs to estimate which of two medical plans its employees prefer. A randomsample of n employees produced the following 98% confidence interval for the proportion of employees whoprefer plan A: (0.241, 0.561) . Identify the point estimate for estimating the true proportion of employees whoprefer that plan.

• A) 0.401
• B) 0.16
• C) 0.241
• D) 0.561

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Average Inventory

An accounting metric that estimates the value or the number of a particular good that a company has in stock over a specific period.

Return on Common Shareholders' Equity Ratio

A financial metric that measures a company's profitability by showing how much profit it generates with the money shareholders have invested, specifically focusing on common stockholders.

Profit Margin

A financial metric that measures the amount of profit a company earns per dollar of revenue, indicating the efficiency of the company in converting sales into profits.