Exhibit 84

question 46

Multiple Choice

Exhibit 8.4.According to a report in USA Today (February 1,2012) ,more and more parents are helping their young adult children get homes.Suppose 8 persons in a random sample of 40 young adults who recently purchased a home in Kentucky got 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 got help from their parents. Refer to Exhibit 8.4.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:

Preferred Alternative

The most favorable option or choice among a set of possibilities, especially in the context of decision making or policy formulation.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Playing Golf

An outdoor game in which players use clubs to hit a small ball into a series of holes on a course in as few strokes as possible.

Sunny Days

Days characterized by sunshine, with minimal to no cloud cover, often associated with good weather.