A University Dean Is Interested in Determining the Proportion of Students

question 7

Multiple Choice

A university dean is interested in determining the proportion of students who receive some sort of financial aid.Rather than examine the records for all students,the dean randomly selects 200 students and finds that 118 of them are receiving financial aid.If the dean wanted to estimate the proportion of all students receiving financial aid to within 3% with 99% reliability,how many students would need to be sampled?

• A)n = 1,844
• B)n = 1,784
• C)n = 1,503
• D)n = 1,435

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Definitions:

Percentage

A mathematical term expressing a number or ratio as a fraction of 100, used to compare proportions and compute changes in quantities.

Production Possibilities Curve

Represents different combinations of two goods that can be produced with a given set of resources and technology, assuming efficient use of resources.

Domestic Output

The total value of all goods and services produced within the borders of a country within a specific period.

Before-Tax Household Income

The total income earned by all members of a household before any taxes are deducted.