In 2007,13,000 Internet Users Were Surveyed and Asked About Their

question 164

Multiple Choice

In 2007,13,000 internet users were surveyed and asked about their willingness to pay fees for access to websites.Of these,2,938 were definitely not willing to pay such fees.How large a sample is necessary to estimate the proportion of interest to within 2% in a 95% confidence interval?

• A)18
• B)307
• C)1680
• D)2000
• E)2965

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Definitions:

Inelastic Demand

A situation where the demand for a product does not change significantly with a change in price.

More Elastic Demand

A situation where the demand for a product is more sensitive to changes in price, meaning quantities demanded change significantly even with small price fluctuations.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Foundation for Success

The essential elements or conditions that must be in place to achieve positive outcomes or success.