A Recent Survey Based on a Random Sample of N

question 60

Essay

A recent survey based on a random sample of n = 500 voters, predicted that the Independent candidate for the mayoral election will get 24% of the vote, but he actually gets 28%. Can it be concluded that the survey was done incorrectly?

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Definitions:

Sherman Act

A foundational antitrust law in the United States designed to prevent monopolistic practices and promote competition.

Competition

The rivalry among businesses to attract customers and gain market share, driving innovation, efficiency, and lower prices.

Service Industries

Sectors of the economy that provide intangible goods or services, such as healthcare, education, and finance.

American Firms

Companies or corporations that are registered and operate in the United States, contributing to its economy.