A Population Proportion Is to Be Estimated from the Sample $55 \%$

question 73

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.
-A poll of 1300 voters in one district showed that $55 \%$ of them would favor stricter gun control laws. Find the $95 \%$ confidence interval for the population proportion favoring stricter gun control laws.

• A) \(0.5223 < \mathrm { p } < 0.5777\)
• B) \(0.5224 < \mathrm { p } < 0.5776\)
• C) \(0.5492 < \mathrm { p } < 0.5508\)
• D) \(0.5305 < \mathrm { p } < 0.5695\)

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Definitions:

Price

The amount of currency estimated, needed, or presented in exchange for an item.

Quality

The degree of excellence of a product or service, often measured against specifications or standards.

MC = P

A condition in economics where marginal cost equals price, often indicating the point of profit maximization for firms.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for significant influence over pricing.