Property Taxes Administrators of the Fire Department Are Concerned About

question 23

Essay

Property taxes Administrators of the fire department are concerned about the possibility of
implementing a new property tax to raise moneys needed to replace old equipment. They
decide to check on public opinion by having a random sample of the city's population.
a. Several plans for choosing the sample are proposed. Match each plan with the letter
corresponding to the sampling strategy.
_____i. The city has five property classifications: single family homes, apartments,
condominiums, temporary housing (hotel and campgrounds), and retail property.
Randomly select ten residents
from each category.
_____ii. Each property owner has a 5-digit ID number. Use a random number table to
choose forty numbers.
_____iii. At the start of each week, survey every tenth person who arrives at the city park.
_____iv. Randomly select 20 city blocks and survey all the residents in each block.
_____v. Have each firefighter survey 10 of his/her neighbors.
A. convenience
B. stratified
C. simple
D. cluster
E. systematic
b. Name and briefly describe the kind of bias that might be present if the administration
decides that instead of selecting people randomly they'll just…
i. interview people about the new property tax at a fire station open house.
ii. ask people who are willing to be taxed to sign a petition.

Interpret the role of government interventions, such as taxes and subsidies, on supply and market equilibriums.

Distinguish between allocative and productive efficiency in market contexts.

Understand the rationing function of prices and the role of government in competitive markets.

Understand key figures and events in the history of slavery and their historical significance.

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Definitions:

Perceptual Maps

A visual representation used in marketing to show how the average target consumer understands the positioning of a brand in relation to its competitors.

Positioning Strategies

Techniques used by companies to place their products or services in the mind of the consumers relative to competitors' offerings.

Value Proposition

A statement that clearly articulates why a customer should prefer and buy one product over another, highlighting the distinct value it offers.

LinkedIn

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