A Psychology Student Wishes to Investigate Differences in Political Opinions

question 36

Multiple Choice

A psychology student wishes to investigate differences in political opinions between business majors and political science majors at her college. She randomly selects 100 students from the
260 business majors and 100 students from the 180 political science majors. Does this
Sampling plan result in a random sample? Simple random sample? Explain.

• A) Yes; yes. The sample is random because all students have the same chance of being
• Selected. It is a simple random sample because all samples of size 200 have the same
• Chance of being selected.
• B) No; yes. The sample is not random because political science majors have a greater
• Chance of being selected than business majors. It is a simple random sample because
• All samples of size 200 have the same chance of being selected.
• C) No; no. The sample is not random because political science majors have a greater
• Chance of being selected than business majors. It is not a simple random sample
• Because some samples are not possible, such as a sample consisting of 50 business
• Majors and 150 political science majors.
• D) Yes; no. The sample is random because all students have the same chance of being
• Selected. It is not a simple random sample because some samples are not possible,
• Such as a sample consisting of 50 business majors and 150 political science majors.

Analyze the profit maximization behavior of competitive firms.

Identify the conditions under which a firm should produce a positive output.

Distinguish between different types of subsidies and their effects on firm output.

Understand the supply function and its derivation from production and cost conditions.

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Definitions:

Stock Purchase

The act of buying shares of a corporation, thereby acquiring a portion of ownership in the company.

High-Income Taxpayers

Individuals who are in the upper brackets of the tax scale, typically subject to higher tax rates and additional taxes on investment income.

Itemized Deductions

Expenses that taxpayers can subtract from their gross income to reduce the taxable income, including payments like mortgage interest, state taxes, and charitable contributions, as specified by the IRS.

Forfeit

The loss of any right, privilege, or property because of a breach of obligation or failure to meet a requirement.