SCENARIO 8-13 The President of a University Is Concerned That Illicit Drug

question 71

Short Answer

SCENARIO 8-13
The president of a university is concerned that illicit drug use on campus is higher than the 5% targeted level.A random sample of 250 students from a population of 2,000 revealed that 7 of them had used illicit drugs during the last 12 months.
-Referring to Scenario 8-13,what is the upper bound of the 90% one-sided confidence interval for the proportion of students who had used illicit drugs during the last 12 months?

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Definitions:

Long-Term Asset

Assets that are expected to provide economic benefits over a period longer than one year, such as buildings, machinery, and land.

Intangible Nature

The quality of being unable to be touched or grasped physically, often used to describe assets that do not have physical substance but are valuable to a business, like copyrights or goodwill.

Long-Lived Assets

Assets of a durable nature used in the regular operations of a business and that are expected to provide economic benefit for more than one year.

Standby Equipment

This term describes equipment that is kept on site and is ready to be used as a backup or support in case the primary equipment fails or needs maintenance.