For a Given Poll, a Professional Polling Firm States That

question 59

Multiple Choice

For a given poll, a professional polling firm states that it has "95 percent confidence that the maximum margin of sampling error is plus or minus four percentage points." What is the firm trying to say by claiming "95 percent confidence"?

• A) There is a 95 percent chance that the poll is off by four points or more.
• B) There is a 5 percent chance that the poll is off by four points or more.
• C) There is a 95 percent chance that the poll is off by five points or more.
• D) There is a 4 percent chance that the poll is off by five points or more.
• E) There is a 5 percent chance that the poll is off by ninety-five points or more.

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Definitions:

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, representing the trade-off between different choices in the allocation of resources.

Recession

A significant decline in economic activity across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Depression

A prolonged and severe downturn in economic activity, characterized by high unemployment, falling prices, and reduced levels of trade and investment.

Production Possibilities Frontier

A graph illustrating the maximum possible output combinations for two products that a country can produce given its technological capabilities and quantity of inputs.