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Suppose the government mandates the installation of a certain type of pollution abatement equipment for the leather tannery industry.For some firms in the industry, installing this equipment may not be the most cost effective method of reducing pollution.
Population Proportion
A fraction or percentage that represents a part of the total population sharing a particular characteristic or attribute.
Sample Proportion
The fraction or percentage of the sample that represents a particular trait or characteristic.
Confidence Interval
An interval of values, obtained from the analysis of sample data, which is probable to include the value of an unspecified population parameter, within a given level of certainty.
Population Proportion
The ratio of members in a population that have a particular characteristic to the total number of members in the population.
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