Suppose We Wish to Estimate the Proportion of Classes Skipped

question 48

Multiple Choice

Suppose we wish to estimate the proportion of classes skipped by seniors in a particular large class.How many samples should be drawn if we want a 90% confidence interval with a bound on the error of estimation of 3%?

• A) 751
• B) 1068
• C) 752
• D) 1067

---

Definitions:

Budget Constraint

outlines the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Demand Curve

A graphic representation showing the relationship between the price of a good or service and the quantity demanded by consumers for a given period.

Sweaters

Clothing items made from wool or other yarn, designed to cover the upper body and provide warmth.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for another while maintaining the same level of utility or satisfaction.