A One-Sided Confidence Interval for P Can Be Written As p

question 23

Multiple Choice

A one-sided confidence interval for p can be written as $p < \hat { p } + \mathrm { E } \text { or } p < \hat { p } - \mathrm { E }$ E where the margin of error E is modified by replacing $z _ { \alpha / 2 }$ with ${ } ^ { Z } \alpha$ . If a teacher wants to report that the fail rate on a test is at most x with 90% Confidence, construct the appropriate one-sided confidence interval. Assume that a simple random sample of 74 students results in 8 who fail the test.

• A) \(p < 0.167\)
• B) \(p < 0.062\)
• C) \(p < 0.154\)
• D) \(p > 0.062\)

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Definitions:

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing for full adjustment to any changes in the market.

Market Price

The price at which goods can be sold or bought in a market, reflecting the supply and demand dynamics at any given time.

Industry Supply Curve

A graphical representation showing the relationship between the price of a good and the total output supplied by the industry.

Technology Improvement

Enhancements or advancements in technological capabilities, leading to more efficient processes or products.