Exhibit 12-4 In the Past, 35% of the Students at ABC University

question 41

Multiple Choice

Exhibit 12-4
In the past, 35% of the students at ABC University were in the Business College, 35% of the students were in the Liberal Arts College, and 30% of the students were in the Education College. To see whether or not the proportions have changed, a sample of 300 students was taken. Ninety of the sample students are in the Business College, 120 are in the Liberal Arts College, and 90 are in the Education College.
-Refer to Exhibit 12-4. The expected frequency for the Business College is

• A)0.3
• B)0.35
• C)90
• D)105

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Definitions:

Resource Markets

Markets in which business firms demand factors of production (for example, labor, capital, and natural resources) from household suppliers. The resources are then used to produce goods and services. These markets are sometimes called factor markets or input markets.

Quantity Supplied

The quantity of a product or service that suppliers are ready and capable of selling at a specific price.

Inversely Related

A term used to describe a situation in which one variable increases as another variable decreases.

Doomsday Forecasts

Predictions suggesting catastrophic events leading to widespread destruction or significant societal collapse.