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SCENARIO 8-9
A university wanted to find out the percentage of students who felt comfortable reporting
cheating by their fellow students.A surveyed 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".
-True or False: Referring to Scenario 8-9, it is possible that the 99% confidence interval
calculated from the data will not contain the proportion of the student population who feel
comfortable reporting cheating by their fellow students.
English Auction
A type of auction where bidders openly bid against one another, and the item is sold to the highest bidder.
Examine
To inspect or scrutinize carefully.
Vickrey Auction
A type of sealed-bid auction where the highest bidder wins but pays the price bid by the second-highest bidder.
Common Values
Refers to a situation in auctions or market settings where a particular item has the same value to all bidders or participants.
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