Solve the Problem. -Find the Point Estimate of the True Proportion of People

question 86

Multiple Choice

Solve the problem.
-Find the point estimate of the true proportion of people who wear hearing aids if, in a random sample of 875 people, 56 people had hearing aids.

• A)0.063
• B)0.060
• C)0.064
• D)0.936

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Definitions:

Resource Suppliers

Entities or individuals that provide the necessary inputs (like labor, raw materials, and capital) for the production of goods and services.

Income Tax

A tax levied by governments on individuals or entities based on their income or profits.

Value Added

At each stage of production, the selling price of a product minus the cost of intermediate goods purchased from other firms.

Fancy Restaurant

A high-end dining establishment known for its quality cuisine, superior service, and often, a refined atmosphere.