Assume That a Sample Is Used to Estimate a Population

question 32

Multiple Choice

Assume that a sample is used to estimate a population proportion p. Find the margin of error E that corresponds to the given statistics and confidence level. Round the margin of error to four decimal places.
-In a random sample of 187 college students, 106 had part-time jobs. Find the margin of error for the 95% confidence interval used to estimate the population proportion.

• A) 0.0639
• B) 0.00257
• C) 0.0710
• D) 0.124

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Definitions:

Net Income

The company's earnings remaining after deducting all expenses and taxes from its revenue.

Beginning Equity

The value of an owner's interest in a company at the start of an accounting period.

Ending Equity

The value of an owner’s interest in a company at the end of an accounting period, determined by subtracting liabilities from assets.

Payroll Accrual

An accounting method that records payroll expenses incurred but not yet paid out to employees, ensuring expenses are recognized in the period they are incurred.