A Random Sample of 400 Items from a Population Shows

question 47

Multiple Choice

A random sample of 400 items from a population shows that 160 of the sample items possess a given characteristic.A random sample of 400 items from a second population resulted in 110 of the sample items possessing the characteristic.Using these data, a 99% confidence interval is constructed to estimate the difference in population proportions which possess the given characteristic.The resulting confidence interval is _______.

• A)0.06 to 0.19
• B)0.05 to 0.22
• C)0.09 to 0.16
• D)0.04 to 0.21
• E)0.05 to 0.23

Understand the implications of antitrust legislation on business practices.

Describe strategies firms may use in oligopolistic competition, such as tit-for-tat.

Differentiate between imperfect competition, oligopoly, and monopolistic competition.

Understand market dynamics in oligopoly, including price wars and cartel formation.

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Definitions:

Diffusion of Innovation

A theory that explains how, why, and at what rate new ideas and technology spread through cultures.

Innovators

Individuals who adopt new ideas or technologies before most others in a society or industry.

Diffusion of Innovation

The method through which an innovative concept, item, or practice disperses across a community or societal structure.

Laggards

In the context of diffusion of innovation, laggards are the last group of people to adopt new technology or ideas, often resistant to change and preferring traditional methods.