Exhibit 22-4 Simple Random Sampling Has Been Used to Obtain a Sample

question 35

Multiple Choice

Exhibit 22-4
Simple random sampling has been used to obtain a sample of size 50 from a population of size 500. The sample proportion was 0.7.
-Refer to Exhibit 22-4. An approximate 95% confidence interval for the population proportion is

• A)0.500 to 0.700
• B)0.750 to 0.810
• C)0.576 to 0.824
• D)0.638 to 0.762

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Definitions:

Tangible Costs

Costs associated with an identifiable physical item or service, such as raw materials, labor, and manufacturing expenses.

Climatic Conditions

The weather conditions prevailing in an area in general or over a long period, affecting living conditions, agriculture, and industry.

Location Decision

The process of selecting an optimal site for a new facility, taking into account factors like cost, logistics, and market access.

Clustering

The location of competing companies near each other, often because of a critical mass of information, talent, venture capital, or natural resources.