The Head of a Computer Science Department Is Interested in Estimating

question 147

Short Answer

The head of a computer science department is interested in estimating the proportion of students entering the department who will choose the new computer engineering option.A preliminary sample indicates that the proportion will be around 0.25.Therefore,what size sample should the department head take if she wants to be 95% confident that the estimate is within 0.10 of the true proportion?

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Definitions:

Elastic Demand

A condition in which the percentage change in quantity demanded of a product is greater than the percentage change in its price, indicating high sensitivity to price changes.

Senior Citizens

Individuals who are considered elderly, typically qualifying for certain benefits at a particular age, often 65 or older.

Profit-Maximizing

A strategy or behavior aimed at making the highest possible profit, where marginal costs equal marginal revenues.

Identical Demand

Refers to a market situation where all consumers have the same desire or need for a particular product or service.