According to a Report in USA Today, More and More

question 104

Multiple Choice

According to a report in USA Today, more and more parents are helping their young adult children get homes. Suppose eight persons in a random sample of 40 young adults who recently purchased a home in Kentucky received help from their parents. You have been asked to construct a 95% confidence interval for the population proportion of all young adults in Kentucky who received help from their parents. What is the margin of error for a 95% confidence interval for the population proportion?

• A) 1.645(0.0040)
• B) 1.645(0.0632)
• C) 1.96(0.0040)
• D) 1.96(0.0632)

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Definitions:

Quantum Meruit

A doctrine in contract law that allows a person to recover reasonable value of services rendered, when a contract does not exist or is unclear, based on the idea of preventing unjust enrichment.

Abandoned Contract

A contract that is no longer active because all parties have ceased to perform their obligations.

Quantum Meruit

A Latin term meaning "as much as he has earned," used in legal context to denote compensation deserved for services or work done when no contract exists.

Substantial Performance

A legal concept that a contract has been completed enough to fulfill its purpose, even if all details have not been precisely met.