TABLE 2-6
a Sample of 200 Students at a Big-Ten

question 36

Multiple Choice

TABLE 2-6
A sample of 200 students at a Big-Ten university was taken after the midterm to ask them whether they went bar hopping the weekend before the midterm or spent the weekend studying, and whether they did well or poorly on the midterm. The following table contains the result.

$\begin{array}{lcc}\hline &\text { Did Well in Midterm}&\text { Did Poorly in Midterm }\\\hline \text {Studying for Exam } & 80 & 20 \\\text { Went Bar Hopping } & 30 & 70\\\hline \end{array}$
-Referring to Table 2-6, if the sample is a good representation of the population, we can expect _____percent of the students in the population to spend the weekend studying and do poorly on the midterm.

• A) 45
• B) 10
• C) 20
• D) 50

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Definitions:

Pareto Optimality

A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.

Partial Equilibrium

An analysis in economics focusing on the equilibrium of a specific sector or market without considering the whole economy.

Equity

The value that would be returned to shareholders if a company's assets were liquidated and all its debts repaid.

Least Possible Cost

The minimum expenditure necessary to achieve a specific outcome or produce a given quantity of a good.