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A University Planner Is Interested in Determining the Percentage of Spring

question 136

Short Answer

A university planner is interested in determining the percentage of spring semester students who will attend summer school. She takes a pilot sample of 160 spring semester students discovering that 56 will return to summer school.
a.Construct a 95% confidence interval estimate for the percentage of spring semester students who will return to summer school.
b.Using the results of the pilot study with a 0.95 probability, how large of a sample would have to be taken to provide a margin of error of 3% or less?

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Definitions:

Net Income

The total profits of a company after all expenses and taxes have been deducted from revenue.

Net Income

Net income is the total profit of a company after all expenses and taxes have been deducted from revenue, indicating its earnings.

Amortization of Bond

The gradual reduction of the book value of a bond payable account through regular payments over the life of the bond.

Gain on Sale

The profit realized from the sale of assets when the selling price exceeds the book value.

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