TABLE 17-2 A Political Pollster Randomly Selects a Sample of 100 Voters

question 25

Multiple Choice

TABLE 17-2
A political pollster randomly selects a sample of 100 voters each day for 8 successive days and asks how many will vote for the incumbent. The pollster wishes to construct a p chart to see if the percentage favoring the incumbent candidate is too erratic.
-Referring to Table 17-2, what is the numerical value of the lower control limit for the p chart?

• A) 0.37
• B) 0.41
• C) 0.50
• D) 0.71

---

Definitions:

Many Sellers

A characteristic of competitive markets where a large number of sellers offer similar or identical products, preventing any single seller from influencing market prices.

Distinguish

To recognize or treat someone or something as different from others.

Marginal Cost

The increase in total production costs resulting from the production of one additional unit of a product or service.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the average cost per unit of output.