Suppose 40% of the Population of Pre-Teens Have a TV

question 34

Multiple Choice

Suppose 40% of the population of pre-teens have a TV in their bedroom.If a random sample of 500 pre-teens is drawn from the population, then the probability that between 36% and 44% of the pre-teens have a TV in their bedroom is closest to _______.

• A)0.9664
• B)0.4644
• C)0.0336
• D)0.9328
• E)0.0712

---

Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.

Agricultural Market

A marketplace for the buying and selling of agricultural products, such as crops and livestock, often influenced by government policies.

Binding Price Floor

A government-imposed price control or limit that sets a minimum price above the equilibrium price, leading to surplus in the market.

Price Paid

The actual amount of money exchanged for a good or service.