A Survey of 1010 College Seniors Working Towards an Undergraduate $( 0.616,0.686 )$

question 76

Multiple Choice

A survey of 1010 college seniors working towards an undergraduate degree was conducted. Each student wasasked, ʺAre you planning or not planning to pursue a graduate degree?ʺ Of the 1010 surveyed, 658 stated thatthey were planning to pursue a graduate degree. Construct and interpret a 98% confidence interval for theproportion of college seniors who are planning to pursue a graduate degree.

• A) \(( 0.616,0.686 )\); we are \(98 \%\) confident that the proportion of college seniors who are planning to pursue a graduate degree is between \(0.616\) and \(0.686\).
• B) \(( 0.620,0.682 )\); we are \(98 \%\) confident that the proportion of college seniors who are planning to pursue a graduate degree is between \(0.620\) and \(0.682\).
• C) \(( 0.621,0.680 )\); we are \(98 \%\) confident that the proportion of college seniors who are planning to pursue a graduate degree is between \(0.621\) and \(0.680\).
• D) \(( 0.612,0.690 )\); we are \(98 \%\) confident that the proportion of college seniors who are planning to pursue a graduate degree is between \(0.612\) and \(0.690\). Construct a 95% Z-interval or a 95% t-interval about the population mean. Assume the data come from a population thatis approximately normal with no outliers.

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Definitions:

Loan

A sum of money borrowed that is expected to be paid back with interest.

Discount Rate

It’s the rate used in discounted cash flow analysis for calculating the present worth of cash flows expected in the future.

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A bundled offer where multiple products or services are sold together, often at a discounted price compared to purchasing each item separately.

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An amount that must be paid or spent to buy or obtain something, reflecting the expense associated with acquiring or maintaining an asset.