A Poll Was Taken of a Random Sample of 1189

question 15

Multiple Choice

A poll was taken of a random sample of 1189 college students. Of these students, 789 reported that they had a Drinking binge (more than 10 drinks in an evening) in the past month. Select the most believable conclusion.

• A)About 70% of college students indulge in binge drinking.
• B)Of the 23,456,321 college students in the country, 15,565,212 indulged in binge drinking last month.
• C)About 66.358% of college students indulged in binge drinking last month.
• D)About 70% of college students indulged in binge drinking last month.

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Definitions:

Inelastic

A description of a situation where the quantity demanded or supplied changes by a smaller percentage than the changes in price.

Demand Sensitive

Reacting to changes in consumer demand, often affecting pricing and production decisions.

Long-Run Demand

The overall demand for a product or service over an extended period, considering changes in market conditions and preferences.

Short-Run Demand

The demand for goods and services in the immediate future, influenced by current prices and income levels.