A Sample of Union Members Was Selected and Their Opinions

question 125

Multiple Choice

A sample of union members was selected and their opinions regarding the proposed management union contract were recorded with 1,600 out of the 2,000 members in favour of it. Using a 95% confidence level, the interval estimate for the population proportion was computed to be 0.78 and 0.82.

• A) This indicates that about 68 out of 100 similarly constructed intervals would include the population proportion.
• B) This indicates that about 95 out of 100 similarly constructed intervals would include the population proportion.
• C) This indicates that about 99 out of 100 similarly constructed intervals would include the population proportion.
• D) This indicates that about 78 out of 100 similarly constructed intervals would include the population proportion.

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Definitions:

Common Stock

Equity ownership in a corporation, with rights to share in its profits and vote in company matters.

Comprehensive Income

The change in equity of a company during a period from transactions and other events from non-owner sources.

Equity

The portion of a company's assets that belongs to the shareholders after debts and liabilities have been settled.

Non-Owner Sources

Non-Owner Sources refer to funds sourced from entities other than the owners, such as loans, creditor financing, or any external investments into the business.