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:

Ending Inventory

Ending Inventory is the total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting goods sold.

Cash Receipts

The collection of money, including cash, checks, and credit card payments, by a business during a given period.

Sales Budget

A financial plan that estimates future sales volumes and revenues for a specific period.

Direct Materials

Direct materials are raw materials that are directly traceable to the manufacturing of a specific product and are an essential component of its production.