According to a Report in USAToday (February 1,2012),more and More

question 62

Multiple Choice

According to a report in USAToday (February 1,2012) ,more and more parents are helping their young adult children get homes.Suppose eight persons in a random sample of 40 young adults who recently purchased a home in Kentucky received 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 received help from their parents.If a 99% confidence interval is constructed instead of a 95% confidence interval for the population proportion,then ________________________________________________________________.

• A) the resulting margin of error will increase and the risk of reporting an incorrect interval will increase
• B) the resulting margin of error will decrease and the risk of reporting an incorrect interval will increase
• C) the resulting margin of error will increase and the risk of reporting an incorrect interval will decrease
• D) the resulting margin of error will decrease and the risk of reporting an incorrect interval will decrease

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Definitions:

Insurance Salesman

A professional who specializes in selling insurance policies to individuals and businesses, advising on coverage options and terms.

Adjusting Entries

Journal entries made in accounting to update the records for accruals, deferrals, and estimates.

Salaries And Wages Payable

Liabilities on a company's balance sheet representing the amounts owed to employees for work performed but not yet paid.

Depreciation Expense

Breaking down the investment in a solid asset over the time it serves its purpose.