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A consumer protection agency is comparing the work of two electrical contractors. The agency plans to inspect residences in which each of these contractors has done the wiring in order to
Estimate the difference in the proportions of residences that are electrically deficient. Suppose the
Proportions of residences with deficient work are expected to be about .7 for both contractors.
How many homes should be sampled in order to estimate the difference in proportions using a
95% confidence interval of width .3?
Ticket Scalpers
Individuals who purchase tickets to events at face value and then sell them at a higher price, typically without authorization, aiming to profit from the high demand.
Consumers
Individuals or entities that purchase goods or services for personal use rather than for manufacturing or resale.
Substitute
A good or service that can be used in place of another, offering consumers a choice when making purchase decisions.
Input
Resources used in the production process of goods or services, including labor, materials, and capital.
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