A Local Planning Commission Is Interested in Finding Out What

question 24

Multiple Choice

A local planning commission is interested in finding out what proportion of its city's residents is opposed to constructing a new baseball stadium in the downtown area. A random sample of 1870 residents is obtained, and 41.2 percent of them are opposed to the stadium.
A 95 percent confidence interval was created for the proportion of the city's residents who are opposed to constructing a new baseball stadium in the downtown area. Decreasing the sample size will:

• A) result in a narrower interval because there will be less information.
• B) result in a narrower interval because the margin of error will decrease.
• C) result in a wider interval because the margin of error will increase.
• D) result in a wider interval because the average scores will change.
• E) not affect the confidence interval at all.

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Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Assets and Liabilities

Components of a company's financial statement, where assets represent resources owned and liabilities represent obligations owed.

Income Statement

A financial statement that shows a company's revenues and expenses over a specified period of time, leading to the net profit or loss.

Breakeven Analysis Account

A financial calculation that determines the point at which the cost of producing a product equals the revenue made from selling the product.