Suppose that in the market for ice cream the elasticity of supply is equal to 1.50. How would a 10% increase in the price of ice
1 answer:
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We have the following data:
Margin of Error = E = 2.7 % = 0.027
Sample size = n = 900
Proportion of adults in favor = p = 60% = 0.6
We need to find the confidence level. For this first we need to find the z value.
The margin of error for a population proportion is given as:
Using the values, we get:
As, seen from the z table, z=1.65 corresponds to the confidence level 90%. So, the answer to this question is option B
Margin of Error = E = 2.7 % = 0.027
Sample size = n = 900
Proportion of adults in favor = p = 60% = 0.6
We need to find the confidence level. For this first we need to find the z value.
The margin of error for a population proportion is given as:
Using the values, we get:
As, seen from the z table, z=1.65 corresponds to the confidence level 90%. So, the answer to this question is option B