A Survey of Households in a Small Town Showed of 1200

question 5

Multiple Choice

A survey of households in a small town showed of 1200 sampled households, that in 500 households at least one member attended a town meeting during the year. Using the 95% level of confidence, what is the confidence interval for the proportion of households represented at a town meeting?

• A) [0.4167, 0.4267]
• B) [0.3888, 0.4446]
• C) [0.4000, 0.4167]
• D) [0.4167, 0.4446]

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Definitions:

Profit-Maximizing

The process or strategy by which a firm adjusts its production to achieve the highest possible profit from its operations.

Interest Rate

The cost of borrowing money, expressed as a percentage of the total amount loaned, or the return on investment.

Investment Undertaken

The commitment of resources such as capital, time, or effort to a project or asset with the expectation of future economic benefits.

Profit-Maximizing

The method through which a company identifies the pricing and production quantity that maximizes its profits.