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A survey of an urban university (population of 25,450) showed that 870 of 1,100 students sampled supported a fee increase to fund improvements to the student recreation center. Using the 95% level of confidence,what is the confidence interval for the proportion of students supporting the fee increase?
Binary Variable
A variable that has only two possible values, often represented as 0 and 1, used to denote presence or absence, success or failure, and similar dichotomies.
Optimal Solution
The most efficient, effective, or desirable solution to a problem or the best decision given the constraints.
Total Cash
The overall amount of liquid assets available to an individual or organization.
Price/demand Elasticity
A measure of how much the demand for a product changes in response to a change in its price.
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