The Following Confidence Interval Is Obtained for a Population Proportion $\hat { p }$

question 55

Multiple Choice

The following confidence interval is obtained for a population proportion, p: 0.802 < p < 0.828 Use these confidence interval limits to find the point estimate, $\hat { p }$ .

• A) \(0.818\)
• B) \(0.812\)
• C) \(0.802\)
• D) \(0.815\)

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Definitions:

Sales Estimate

An approximation of the number or value of goods or services that a company expects to sell in a future period.

Direct Labor Budget

A financial plan that estimates the cost of direct labor required to meet production goals within a specific period.

Direct Labor Cost

The total cost of all labor directly involved in the production of goods or services, excluding indirect labor costs.

Labor Cost

The total expenses associated with employing labor, including wages, benefits, and taxes.