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

question 65

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 those who spent the weekend studying to do poorly on the midterm.

• A) 20
• B) 45
• C) 10
• D) 50

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Definitions:

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including the cost of the materials and labor directly used to create the product.

Gross Profit

A company's revenue minus its cost of goods sold, indicating the efficiency of a company in managing its production and labor costs.

Net Income

A company's total earnings or profit, calculated by subtracting total expenses from total revenues.

Income Before Income Taxes

This is the earnings of a company before accounting for income taxes, representing the amount made from ordinary operations.