Provide an Appropriate Response $99 \%$ Confidence Interval to Estimate the True Proportion of Students on Determining

question 24

Multiple Choice

Provide an appropriate response.
-A university dean is interested in determining the proportion of students who receive some sort of financial aid. Rather than examine the records for all students, the dean randomly selects 200 students and finds that 118 of them are receiving financial aid. Use a $99 \%$ confidence interval to estimate the true proportion of students on financial aid.

• A) \(0.59 \pm 0.090\)
• B) \(0.59 \pm 0.003\)
• C) \(0.59 \pm 0.623\)
• D) \(0.59 \pm 0.007\)

Understand how expenses are categorized on a contribution margin income statement.

Apply knowledge of costing methods to evaluate special order decisions.

Understand the different types of activities (operating, investing, and financing) that affect a firm's cash position and how they are represented in financial statements.

Grasp the purpose and content of the statement of cash flows and how it links to changes in a firm’s financial structure and investments.

---

Definitions:

Notice Requirement

Legal obligations that mandate certain information be given to relevant parties in specific situations, often within a defined timeframe.

Ordinary Care

The level of attention, caution, and prudence that a reasonable person in similar circumstances would exercise to avoid harm.

Incompetent Person

An individual legally declared unable to handle their own affairs due to mental or physical incapacity.

Guardian

A person legally appointed to manage and make decisions for someone who is unable to take care of their personal affairs, such as a minor or incapacitated individual.