A Previous Random Sample of 4000 U

question 83

Multiple Choice

A previous random sample of 4000 U.S. citizens yielded 2250 who are in favor of gun control legislation. How many citizens would need to be sampled for a 99% confidence interval to estimate the true proportion within 5%?

• A) 653
• B) 690
• C) 664
• D) 611

---

Definitions:

Price Competition

The focus on setting a product price as the primary competitive strategy to attract customers in a market.

Video Game Console

A specialized electronic device designed to play video games that connect to a television or other display media.

Price Leader

A company that determines the price levels in the market due to its dominant position or competitive strategies.

Competitors' Prices

The cost at which rival businesses offer similar goods or services in the market.