The Principal at George Washington High School Has Been Asked $n = 40$

question 18

Essay

The principal at George Washington High School has been asked to estimate the proportion of students at the school who drive to school and use the school parking lot. He takes a random sample of size $n = 40$ students and calculates a sample proportion, $\hat { p } = 0.8$ . "Now," he exclaims, "since my sample size is pretty large, the sampling distribution of the sample proportion is approximately normal." Write a short paragraph that explains why his statement is not correct.

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Definitions:

Equilibrium Price Level

The cost at which the amount of products offered matches the amount of products requested.

Equilibrium Output

The level of production at which the quantity of goods produced equals the quantity of goods demanded.

Keynesian Approach

An economic theory proposing that government intervention through fiscal policies (spending and taxes) can affect the overall level of economic activity, stabilizing the economy.

Fiscal Policy

Government strategies used to influence economic conditions through spending and taxation.