A Mayoral Election Race Is Tightly Contested

question 52

Essay

A mayoral election race is tightly contested. In a random sample of 1300 likely voters, 676 said that they were planning to vote for the current mayor. Based on this sample, would you claim that the mayor will win a majority of the votes? Explain.

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Definitions:

Dividend Revenue

Income earned by shareholders when a company distributes a part of its earnings to its stockholders.

Common Stock

Equity ownership in a corporation, with rights to vote on corporate matters and receive dividends.

Operating Revenue

Operating revenue refers to the income generated from a company's primary business activities, such as sales of goods or services.

Other Revenues and Gains

Income streams and financial gains that do not arise from the primary operations of a business.