A Researcher Wants to Construct a 90% Confidence Interval for the Proportion

question 54

Multiple Choice

A researcher wants to construct a 90% confidence interval for the proportion of elementary school students in Seward County who receive free or reduced-price school
Lunches. A state-wide survey indicates that the proportion is 0.50. Using this estimate,
What sample size is needed so that the confidence interval will have a margin of error of
0) 1?

• A) 5
• B) 7
• C) 68
• D) 42

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Definitions:

Economic Welfare

The overall health and well-being of an economy, often measured by standards of living, availability of goods and services, and income distribution.

Economic Efficiency

A state in which resources are ideally distributed to best meet the needs of every person or entity, reducing waste and inefficiency to a minimum.

Gains From Trade

The benefits that parties obtain from engaging in voluntary exchange of goods or services.

Free Markets

Economic systems where prices for goods and services are determined by the open market and consumers, with minimal government intervention.