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Anika [276]
3 years ago
11

A simple random sample of 700 individuals provides 200 Yes responses. a. What is the point estimate of the proportion of the pop

ulation that would provide Yes responses (to 2 decimals)? b. What is your estimate of the standard error of the proportion (to 4 decimals)? c. Compute the 95% confidence interval for the population proportion (to 4 decimals).
Business
1 answer:
Natalija [7]3 years ago
6 0

Answer and Explanation:

A. The point estimate of individuals that would provide yes responses is the sample proportion. The sample proportion is calculated by dividing number of yes responses by sample size:

p = x/n = 200/700= 0.2857

B. The standard error of the population is the square root of the product of the point estimate and it's complement divided by the sample size given by

√p(1-p)/n

=√0.2857(1-0.2857)/700= 0.0170

C. For confidence level 95%, z score is calculated 1-0.95= 0.05/2= 0.025

Z score checked under the table = 1.96

Boundaries=

P-1.96 *standard error and p+1.96 *standard error

= 0.2857-1.96*0.0170= -0.25238

=0.2857+1.96*0.0170= 0.31902

Note : BODMAS demands we multiply first in the above calculation before subtraction or addition.

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If demand is inelastic, a drought around the world would ___the total revenue that farmers receive from the sale of grain.
Elena L [17]

Answer:

Raises ;

C. A drought in Kansas is not significant enough to affect the worldwide price of grain.

Explanation:

Drought is a situation where there is shortage of water due to prolong absence of rainfall.

This is because, when Kansas has a drought, purchasers or buyers can substitute  wheat from other places for Kansas wheat.

But, when the whole world has a drought, purchasers or buyers have no other suppliers of wheat to substitute.  This means that, no area will have wheat so that the buyers can buy, because every area will be affected by the drought.

In this case,the demand for wheat is inelastic in the short run.

7 0
3 years ago
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Knowledge Check 01 Simpson Company purchased $900 of equipment by paying cash and recorded the expenditure as a purchase of land
aniked [119]

Answer:

Dr Cash900

Cr Land900

Dr.Equipment 900

Cr Cash 900

Explanation:

Simpson Company Journal entries required to correct the error that occured, in which expenditure was credited to Cash, but was debited to Land instead of Equipment.

Dr Cash900

Cr Land 900

To reverse erroneous entry

Dr.Equipment900

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6 0
3 years ago
On January 1, 2021, Splash City issues $340,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and
Evgesh-ka [11]

Answer:

Dr cash                                          $310,831

Dr discount on bonds payable   $29,169

Cr bonds payable                                             $340,000

On 30th June 2021

Dr  interest expense      $ 15,542  

Cr cash                                            $15,300

Cr discount on bonds payable        $242

On 31st   December  2021

Dr  interest expense      $ 15,554  

Cr cash                                            $15,300

Cr discount on bonds payable        $254

Explanation:

The bond issued at a discount is the first bond whose cash proceeds of $310,831 were less than face value of $340,000.

Discount=face value -cash proceeds=$340,000-$310,831=$29,169.00  

Find attached bond amortization schedule.

Download xlsx
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4 years ago
When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage, and market price will l
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True.

However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
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if an internal audit reveals issues, it is time to do some interviews and document reviews. how many people should be involved i
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'If an internal audit reveals issues, it is time to do some interviews and document reviews. 2 the attorney many people should be involved in the interview process of an employee.

An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for your work by your employer (the person or company that pays your salary).

An employer is an individual, firm, or organization that employs people and pays them wages for their work. A person who works and gets paid is called an employee. Employers provide employment.

An example of an employee is a store clerk. Employees are required to perform specific tasks such as: B. An employee is considered an employee if they wear a name tag and greet customers with certain expressions.

Learn more about employee brainly.com/question/27953070

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6 0
1 year ago
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