Suppose That Past History Shows That 60% of College Students

question 112

Multiple Choice

Suppose that past history shows that 60% of college students prefer Coca-Cola. A sample of 10,000 students is to be selected. Which of the following distributions would you use to figure out the probability that at least half of them will prefer Coca-Cola?

• A) Uniform distribution
• B) Poisson distribution
• C) Normal distribution
• D) Steady distribution

Understand the concepts of gross savings and productivity growth rates in different periods.

Evaluate the effects of immigration on economic growth and productivity.

Assess strategies for economic development in underdeveloped countries.

Understand the various factors affecting economic growth.

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Definitions:

Quantity

The amount or number of a material or immaterial good or service.

Average Fixed Cost

The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.

Output

The total quantity of goods and services produced by an economy or a firm.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced, a measure of per unit cost.