The Probability That Someone Will Prefer Coke Over Pepsi Is

question 36

Multiple Choice

The probability that someone will prefer Coke over Pepsi is 0.56.A researcher asked 90 people which soda pop they preferred, and used the normal approximation to the binomial with a correction for continuity, what would be the standard deviation used in the calculation?

• A)4.7
• B)22.2
• C)50.4
• D)39.6
• E)22.5

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Definitions:

Market Quantity

The total amount of goods or services that are available for purchase within a particular market.

Willingness to Pay

The maximum amount an individual is prepared to spend for a good or service, reflecting the value they derive from it.

Baseball Game Ticket

A document or electronic card that grants the holder admission to a baseball game event.

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting their valuation of it.