The Following Table Shows the Number of Individuals in a Sample

question 13

Multiple Choice

The following table shows the number of individuals in a sample of 300 who indicated they support the new tax proposal. ​ We are interested in determining whether or not the opinions of the individuals of the three groups are uniformly distributed.The number of degrees of freedom associated with this problem is

• A) 2.
• B) 3.
• C) 300.
• D) 299.

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Definitions:

Price Increase

A rise in the cost of goods or services, which can occur due to various factors including increased production costs, higher demand, or inflation.

Optimal Bundle

The combination of goods and services that maximizes an individual's utility given their budget constraint.

Original Prices

The initial cost or value of goods and services before any discounts, markdowns, or adjustments.

Utility Function

A mathematical representation in economics that reflects consumer preferences, assigning a value to each possible bundle of goods.