A University Dean Is Interested in Determining the Proportion of Students

question 91

Multiple Choice

A university dean is interested in determining the proportion of students who receive some sort of financial aid.Rather than examine the records for all students,the dean randomly selects 200 students and finds that 118 of them are receiving financial aid.If the dean wanted to estimate the proportion of all students receiving financial aid to within 3% with 99% reliability,how many students would need to be sampled?

• A) n = 1,503
• B) n = 1,435
• C) n = 1,784
• D) n = 1,844

---

Definitions:

Accounts Receivable

tracks money owed to a business by customers who have purchased goods or services on credit, representing a line of credit extended by the business and due within a short period.

Sales

The transactions involving the exchange of goods or services for money or other compensation.

Perpetual Inventory System

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Merchandise Inventory

Finished goods held for sale by a company in the ordinary course of business; also known as stock-in-trade.