To Estimate a Proportion with a 4 Percent Margin of Error

question 89

True/False

To estimate a proportion with a 4 percent margin of error and a 95 percent confidence level, the required sample size is over 800.

Analyze the impact of marginal productivities on input usage decisions.

Understand the principle of diminishing marginal returns in the context of agricultural production.

Apply mathematical optimization to practical agricultural economics problems.

Assess how profit maximization influences decisions on resource allocation.

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Definitions:

Special Discounted Price

A reduced price offered on a product or service, often to stimulate sales, clear inventory, or reward customers.

Opportunity Cost

The potential benefit that is foregone from not following the best alternative action or decision.

Price Reduction

A decrease in the listed price of goods or services, often used as a strategy to increase sales or competitive position.

Unit Sales

The quantity of individual items or products sold by a company, often used to measure business performance.