The Width of a Confidence Interval Estimate for a Proportion

question 50

Multiple Choice

The width of a confidence interval estimate for a proportion will be

• A) wider for a sample size of 100 than for a sample size of 50.
• B) narrower for 99% confidence than for 95% confidence.
• C) narrower when the sample proportion is 0.50 than when the sample proportion is 0.20.
• D) narrower for 90% confidence than for 95% confidence.

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Definitions:

Private-Values

The individual valuation of an item or asset that varies from person to person, usually in the context of auctions or bidding scenarios.

Vickrey Auction

A type of sealed-bid auction where bidders submit written bids without knowing the bid of the other people in the auction and the highest bidder wins, but the price paid is the second-highest bid.

True Valuation

The actual worth of a good or service to an individual, reflecting the maximum amount they are willing to pay to acquire it.

English Auction

A common type of auction where participants openly bid against one another, with the price gradually increasing until only the highest bidder remains.