Use the Given Degree of Confidence and Sample Data to Construct

question 68

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p.
-Of 346 items tested, 12 are found to be defective. Construct the 98% confidence interval for the proportion of all such items that are defective.

• A) 0.0110 < p < 0.0584
• B) 0.0345 < p < 0.0349
• C) 0.0118 < p < 0.0576
• D) 0.0154 < p < 0.0540

---

Definitions:

Present Value

The current evaluation of a forthcoming cash amount or cash flow series, considering a specific rate of financial return.

Land Rent

Land rent is the payment made for the use of a piece of land, representing the value derived from its use.

Interest Payments

The payments made periodically by a borrower to a lender as compensation for the use of borrowed funds.

Interest Rates

The percentage of a sum of money charged for its use, determining the cost of borrowing money or the return on invested capital.