SCENARIO 15-2
a Political Pollster Randomly Selects a Sample of 100

question 117

Multiple Choice

SCENARIO 15-2
A political pollster randomly selects a sample of 100 voters each day for 8 successive days and asks how many will vote for the incumbent.The pollster wishes to construct a p chart to see if the percentage favoring the incumbent candidate is too erratic. $$\begin{array} { c c } \begin{array} { c } \text { Sample } \\\text { (Day) }\end{array} & \begin{array} { c } \text { Number Favoring } \\\text { IncumbentCandidate }\end{array} \\\hline 1 & 57 \\2 & 57 \\3 & 53 \\4 & 51 \\5 & 55 \\6 & 60 \\7 & 56 \\8 & 59\end{array}$$
-Referring to SCENARIO 15-2, what is the numerical value of the center line for the p chart?

• A)0.53
• B)0.56
• C)0.63
• D)0.66

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Definitions:

Marginal Extraction Cost

The additional cost associated with extracting one more unit of a resource, considering factors like difficulty of extraction and resource depletion.

Discount Rate

The interest rate that an eligible depository institution is charged to borrow short-term funds directly from a central bank.

Market Price

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

Expected Profit

The anticipated earnings from an investment or business venture after accounting for potential risks and expenses.