Use the Given Degree of Confidence and Sample Data to Construct

question 23

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p.
- $\mathrm { n } = 171 , \mathrm { x } = 124 ; 95 \%$ confidence

• A) \(0.672 < p < 0.778\)
• B) \(0.657 < p < 0.793\)
• C) \(0.671 < p < 0.779\)
• D) \(0.658 < \mathrm { p } < 0.792\)

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Definitions:

Equilibrium Position

Market equilibrium is achieved when demand equals supply, stabilizing prices as a consequence.

Price of B

The cost at which a specific good, service, or commodity "B" is offered for sale to consumers.

Indifference Curves

Indifference curves are graphical representations showing combinations of goods between which a consumer is indifferent, highlighting preferences.

Income

Income is the financial gain acquired from labor, capital investments, or business activities over a certain period, used for consumption or saving.