A Random Sample of 130 Mortgages in the State of Maryland

question 11

Multiple Choice

A random sample of 130 mortgages in the state of Maryland was randomly selected.From this sample,14 were found to be delinquent on their current payment.The 98% confidence interval for the proportion based on this sample is _______.

• A) [0.063,0.153]
• B) [0.036,0.180]
• C) [0.029,0.188]
• D) [0.015,0.201]

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Definitions:

Time Limitation

A statutory period within which a lawsuit must be filed or a specific legal action must be taken; failing to act within this period can result in losing the right to claim.

Restatement (Third)

A collection of volumes intended to inform the judiciary, lawyers, and others about general principles of common law in various areas.

Section 402A

A section of the Restatement (Second) of Torts relating to the liability of sellers for harm caused by defective products.

Design Defects

Flaws in the intended design of a product that pose a risk to consumers or fail to perform safely as intended, leading to potential legal liability.