Using Probability Sampling, Sam Collected Data on the Number of Dogs

question 69

Multiple Choice

Using probability sampling, Sam collected data on the number of dogs owned in each household in the Houston____________________________ area. He analyzed his data and determined that 1.3 dogs are owned in each household. He might conclude from this information that there is a probability that at least one dog is owned by every household in Texas. Sam used____________________________to draw this conclusion.

• A) statistical inference
• B) intuition
• C) crystal ball inference
• D) intention processing
• E) perceptual mapping

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Definitions:

Price Floor

A government or regulatory imposed minimum price above which a particular good or service cannot be traded.

Shortage/Surplus

A market condition where the quantity of a good supplied is less/more than the quantity demanded at the market price.

Price Ceiling

A price ceiling is a government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers from prices that are deemed too high.

Shortage/Surplus

A shortage occurs when demand exceeds supply, whereas a surplus happens when supply exceeds demand.