There Are 2,000 Eligible Voters in a Precinct

question 107

Multiple Choice

There are 2,000 eligible voters in a precinct. Despite protests from knowledgeable persons that a
Sample size of 500 was too large in relation to the total, the 500 selected at random were asked to
Indicate whether they planned to vote for the Liberal incumbent or the Conservative challenger. Of
The 500 surveyed, 350 said they were going to vote for the Liberal incumbent. Using the 0.99
Confidence coefficient, what are the confidence limits for the proportion that plan to vote for the
Liberal incumbent?

• A) 0.060 and 0.700
• B) 0.612 and 0.712
• C) 0.397 and 0.797
• D) 0.826 and 0.926
• E) 0 .6542 and 0.7458

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Definitions:

Shortage

A situation where the demand for a product or service exceeds its supply in a market.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price over a specific period.

Inventories

Quantities of goods or materials on hand or in the process of being produced for sale.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that producers are willing to supply.