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After Elections Were Held, It Was Desired to Estimate the Proportion

question 56

Multiple Choice

After elections were held, it was desired to estimate the proportion of voters who regretted that they did not vote. How many voters must be sampled in order to estimate the true proportion to within 2%(2 \% ( e.g., ±0.02\pm 0.02 ) at the 90%90 \% confidence level? Assume that we believe this proportion lies close to 30%30 \% .


Definitions:

Workbook Problems

Exercises or assignments found in a workbook designed to practice or test understanding of a subject.

Term Papers

Research papers written by students over an academic term, accounting for a large part of a grade.

Utility Function

A mathematical representation of how consumer preferences are related to the consumption of goods and services.

Competitive Market

A market structure characterized by a large number of buyers and sellers, all of whom have minimal impact on the market price.

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