TABLE 8-11 A University Wanted to Find Out the Percentage of Students

question 151

Short Answer

TABLE 8-11
A university wanted to find out the percentage of students who felt comfortable reporting cheating by their fellow students. A survey of 2,800 students was conducted and the students were asked if they felt comfortable reporting cheating by their fellow students. The results were 1,344 answered "Yes" and 1,456 answered "No."
-Referring to Table 8-11, the sampling error of a 99% confidence interval for the proportion of student population who feel comfortable reporting cheating by their fellow students is ________.

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Definitions:

Fixed Costs

Overheads such as rent, salaries, and insurance that do not fluctuate with changes in the volume of production or sales.

Break-even Point

The level of sales at which total revenues equal total costs, resulting in no profit or loss and marking the threshold for profitability.

Variable Cost

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production volume.

Fixed Costs

Expenses that remain constant regardless of the amount of goods produced or sold, including lease payments, wages, and insurance premiums.