In Determining the Sample Size Needed to Estimate the Population

question 73

True/False

In determining the sample size needed to estimate the population proportion p,we let the sample proportion = 1 if we have no knowledge of even the approximate values of .

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Definitions:

Personal Income

The total earnings of an individual from wages, investment interests, and other sources before any deductions or taxes.

Lorenz Curve

A widely used graph of the distribution of income, with cumulative percentage of households plotted along the horizontal axis and cumulative percentage of income plotted along the vertical axis.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showing the degree of inequality.

Shaded Area

In graphical analysis, the region enclosed by curves or boundaries, often used to represent quantities such as surplus, deficit, or probability.