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

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Definitions:

Owner's Equity

The amount of assets in a company that belongs to the owners after deducting liabilities; also known as shareholders' equity.

Capital Account

An account on the balance sheet that represents the equity or ownership interest of owners in the business.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure a company's bookkeeping system is mathematically correct.

Balance Sheet

A financial record that outlines the value of a company's assets, its liabilities, and the equity belonging to investors, at a particular time.