We Have Calculated a Confidence Interval Based on a Sample

question 19

Multiple Choice

We have calculated a confidence interval based on a sample of size n = 100. Now we want to get a
Better estimate with a margin of error that is only one-fourth as large. How large does our new
Sample need to be?

• A) 50
• B) 400
• C) 200
• D) 1600
• E) 25

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Definitions:

Sales Tax Payable

An account responsible for tracking the sales tax gathered from buyers, due to be paid to the authorities.

Accounts Receivable

Funds that customers owe to a business for goods or services already provided but not yet compensated for.

Sales Tax Payable

A liability account that accumulates the collected sales tax from customers to be remitted to the respective tax authorities.

Asset Account

An asset account is a category in the financial statements that reports the value of a company's assets, such as cash, inventory, property, and equipment.