In a Study of Texting and Driving, 48% of 300 $0.50$

question 14

Essay

In a study of texting and driving, 48% of 300 adults surveyed said that they text and
drive. Forty-four percent of 300 teens surveyed said that they text and drive. It is
reasonable to regard these samples (adult drivers and teen drivers) as representative of
the corresponding populations. a) Suppose that the true proportion of adults who text and drive is $0.50$ . Show that it is reasonable to approximate the sampling distribution of $\hat { p }$ , the sample proportion of adults who report texting and driving, using a normal distribution.
b) Assuming that half of all adults would report texting and driving, what is the probability of observing a sample proportion of adult texting drivers less than $\hat { p } = 0.48$ in a study with a sample size of 300 ? c) Assuming that half of all teens would report texting and driving, what is the probability of observing a sample proportion of texting teen drivers of greater than $\hat { p } = 0.44$ in a study with a sample size of 300 ?

Distinguish between the short run and long run in economic analysis, particularly in terms of firm behavior and market dynamics.

Apply the concepts of sunk costs and opportunity costs in economic decision-making.

Evaluate the conditions for long-run equilibrium in competitive markets and the adjustment process following changes in demand.

Comprehend the role of supply and demand in determining market equilibrium and the effects of shifts in demand.