Use the Given Degree of Confidence and Sample Data to Construct

question 134

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p.
-A survey of 865 voters in one state reveals that 408 favor approval of an issue before the legislature. Construct the 95% confidence interval for the true proportion of all voters in the state who favor approval.

• A) \(0.438 < p < 0.505\)
• B) \(0.444 < p < 0.500\)
• C) \(0.471 < p < 0.472\)
• D) \(0.435 < p < 0.508\)

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Definitions:

Merchandising Company Income Statement

An income statement format used by companies that buy and sell goods, highlighting the cost of goods sold and gross profit.

Perpetual Inventory System

An accounting method that records inventory transactions in real-time, immediately reflecting changes in inventory levels.

Purchase Of Inventory

The act of acquiring goods or raw materials that a company intends to sell in its normal business operations.

Terms 2/15

A payment term indicating that a buyer can take a 2% discount on the invoice amount if the payment is made within 15 days of the invoice date.