Provide an Appropriate Response $0.32$ B) $0.68$ C) $0.471$ D) $0.242$

question 68

Multiple Choice

Provide an appropriate response.
-A survey of 100 fatal accidents showed that in 32 cases the driver at fault was inadequately insured. Find a point estimate for p, the population proportion of accidents where the driver at fault was inadequately insured

• A) \(0.32\)
• B) \(0.68\)
• C) \(0.471\)
• D) \(0.242\)

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Definitions:

Baseball Game Ticket

A document or electronic card that grants the holder admission to a baseball game event.

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting their valuation of it.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they do pay.

Market Forces

The natural factors of supply and demand that determine prices, production levels, and resource allocation in a freely competitive economy.