Suppose That an Internal Report Submitted to the Managers at a Bank

question 19

Multiple Choice

Suppose that an internal report submitted to the managers at a bank in Boston showed that with 95 percent confidence, the proportion of the bank's customers who also have accounts at one or more other banks is between .45 and .51. Given this information, what sample size was used to arrive at this estimate?

• A) About 344
• B) Approximately 1,066
• C) Just under 700
• D) Can't be determined without more information.

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Definitions:

Low Wages

Compensation for work that is perceived to be significantly below what is considered adequate for the cost of living in a society.

False Claims

Assertions or statements made that are not true, often used in legal contexts to denote fraudulent or misleading information.

Advertisements

A form of marketing communication used to promote or sell a product, service, or idea.

Major Organic Product

The principal substance formed from an organic chemical reaction, often emphasized in contexts where multiple products are possible but one predominates.