A Study Was Conducted to Determine What Proportion of All

question 50

Multiple Choice

A study was conducted to determine what proportion of all college students considered themselves as full-time students. A random sample of 300 college students was selected and 210 of the students responded that they considered themselves full-time students. A computer program was used to generate the following 95% confidence interval for the population proportion: (0.64814, 0.75186) . Which of the following practical interpretations is correct for this confidence interval?

• A) We are 95% confident that the percentage of all college students who consider themselves full-time students was 0.700.
• B) We are 95% confident that the percentage of the 300 students who responded that they considered themselves full-time students falls between 0.648 and 0.752.
• C) We are 95% confident that the percentage of all college students who consider themselves full-time students falls between 0.648 and 0.752.
• D) We are 95% confident that the percentage of the 300 students who responded that they considered themselves full-time students was 0.700.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices.

Equation

A mathematical statement that asserts the equality of two expressions, typically involving variables and constants.

Advanced Analysis

The application of sophisticated techniques and tools to examine complex datasets in order to derive meaningful insights and conclusions.

Substitution Effect

A principle describing how changes in relative prices can lead consumers to substitute one good for another more or less expensive one, affecting demand levels.