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TABLE 8-8 the President of a University Would Like to Estimate the Estimate

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TABLE 8-8
The president of a university would like to estimate the proportion of the student population that owns a personal computer. In a sample of 500 students, 417 own a personal computer.
-Referring to Table 8-8, we are 99% confident that the mean numbers of student population who own a personal computer is between 0.7911 and 0.8769.

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Understand the concepts of test validity and reliability.

Definitions:

Objectivity

The practice of maintaining impartiality and neutrality, avoiding bias or subjective influences in judgments and analyses.

Scientific Method

A systematic process for conducting research and experimentation, involving the observation, hypothesis formation, experimentation, and the analysis of data to draw conclusions.

Economics

Economics is the social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Experiments

Scientific procedures undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

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