When Estimating a Population Parameter by Using a Sample Statistic,the

question 25

Multiple Choice

When estimating a population parameter by using a sample statistic,the ________ is the desired size of the estimating interval.This is the maximum permissible difference between the sample statistic and the population parameter.

• A)statistic
• B)precision level
• C)finite population correction
• D)parameter

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Definitions:

Maximization Problem

A type of optimization that involves finding the maximum value of a function within a given domain, often subject to constraints.

Marginal Gain

The additional benefit or improvement gained from producing or consuming one more unit of a product or service.

Optimal Solution

The best possible outcome or solution that maximizes or minimizes the objective function within the constraints of a problem.

Constraints

Limitations or restrictions that are placed on a situation, process, or activity.