Exhibit 11-6
the Following Shows the Number of Individuals in a Sample

question 65

Multiple Choice

Exhibit 11-6
The following shows the number of individuals in a sample of 300 who indicated they support the new tax proposal.
$\begin{array}{lc}\text { Political Party }&\text { Support }\\\text { Democrats } & 100 \\\text { Republicans } & 120 \\\text { Independents } & 80\end{array}$ We are interested in determining whether or not the opinions of the individuals of the three groups are uniformly distributed.
-Refer to Exhibit 11-6. The expected frequency for each group is

• A) 0.333
• B) 0.50
• C) 50
• D) None of these alternatives is correct.

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Definitions:

Diminishing Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Fixed Inputs

Resources used in production that cannot be easily increased or decreased in the short term, such as buildings or machinery.

Variable Inputs

Resources or factors of production whose quantity can be changed in the short term to influence output.

Fixed

Fixed typically refers to costs or assets that do not change in the short term, regardless of the level of output or activity.