In an Opinion Survey,a Random Sample of 1000 Adults from the United

question 7

Short Answer

In an opinion survey,a random sample of 1000 adults from the United States and 1000 adults from Germany were asked whether they supported the death penalty.590 American adults and 560 German adults indicated that they supported the death penalty.The researcher wants to know whether there is sufficient evidence to conclude that the proportion of adults who support the death penalty is higher in the United States than in Germany.What is the p-value for this test?

---

Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogenous product, free entry and exit, and perfect information, leading to firms being price takers.

Market Price

The current price at which an asset or service can be bought or sold in a competitive market.

Profit

The profit earned when the total income surpasses all the expenditures, costs, and taxes necessary for maintaining the business.

Profit-Maximizing

A strategy or approach taken by firms to achieve the highest possible profit from their operations.