A Population Proportion Is to Be Estimated from the Sample $= 225$

question 5

Multiple Choice

A population proportion is to be estimated from the sample described. Approximate the 95% confidence interval. Round your answer to four decimal places, if necessary.
-Sample size $= 225$ , sample proportion $= 0.9$

• A) \(0.8600 < p < 0.9400\)
• B) \(0.8973 < p < 0.9027\)
• C) \(0.8333 < p < 0.9667\)
• D) \(0.8717 < p < 0.9283\)

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Definitions:

Market Price

The actual selling price of a good or service in the market at which it can be bought or sold.

Surplus

The amount by which quantity supplied exceeds quantity demanded, often resulting in excess goods and a decrease in prices.

Shortage

A situation in which demand for a good or service exceeds its supply in a market.

Equilibrium

Equilibrium is the state in a market where the quantity supplied equals the quantity demanded, resulting in market stability and no incentive for price changes.