Which One of the Following Would Most Likely Increase the Demand

question 68

Multiple Choice

Which one of the following would most likely increase the demand for wheat?

• A) an increase in the price of soybeans, a substitute product
• B) a decrease in the price of corn, a substitute product
• C) the development of a hybrid seed that doubles wheat yields per acre
• D) a decrease in the price of wheat

---

Definitions:

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of numbers.

Confidence Interval

A selection of values from sample-related statistics, presumed to hold the value of an undetermined population characteristic.

Population Mean

The average of a set of characteristics (e.g., measurements, counts) of the entire population.

Standard Error

A statistic that measures the dispersion or variability of a sampling distribution, often used in estimating parameters.