SCENARIO 8-11 a Poll Was Conducted by the Marketing Department of a of a Video

question 124

True/False

SCENARIO 8-11
A poll was conducted by the marketing department of a video game company to determine
the popularity of a new game that was targeted to be launched in three months.Telephone
interviews with 1,500 young adults were conducted which revealed that 49% said they would
purchase the new game.The margin of error was 3 percentage points.
-True or False: Referring to Scenario 8-11, you are 99% confidence that the percentage of
the targeted young adults who will purchase the new game is somewhere between 46% and
52%.

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Definitions:

365-Day Year

A convention used in interest calculations assuming a full year consists of 365 days.

Total Amount

The complete sum or aggregate of quantities, such as the final amount due for payment or the sum total of assets.

Simple Interest

Interest calculated only on the initial amount of money deposited or loaned, not on any interest accrued over time.

Ordinary Interest

Interest calculated based on a 360-day year, often used in banking for loans and savings.