From a Sample of 400 Items,14 Are Found to Be

question 29

Multiple Choice

From a sample of 400 items,14 are found to be defective.The point estimate of the population proportion defective will be:

• A)0.035
• B)0.05
• C)14
• D)28.57

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Definitions:

Optimal Level

The most favorable or advantageous point, level, or condition in a process or activity, often involving the maximization of efficiency or profit.

Market Demand

This refers to the total demand for a product or service by all consumers in a particular market.

Competitive Firm

A company that operates in a market where it must compete with other firms for customers, characterized by the inability to control market prices.

Higher Profits

Increased earnings resulting from a rise in revenue, a decrease in costs, or both.