In a Random Sample of 1,000 High School Students,29 Percent

question 37

Multiple Choice

In a random sample of 1,000 high school students,29 percent indicated that they had read the Declaration of Independence at least once,with a margin of error of 4 percent.Which of the following statements is true?

• A) It is likely that more than 33 percent of the population have read the Declaration of Independence.
• B) It is likely that fewer than 25 percent of the population have read the Declaration of Independence.
• C) It is likely that between 25 and 33 percent of the population have read the Declaration of Independence.
• D) It is likely that 29 percent of the population has read the Declaration of Independence between zero and five times.

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Definitions:

Real Output

The production of goods and services in an economy adjusted for inflation, allowing for comparison of economic productivity over different time periods by reflecting the actual volume of production.

Price Levels

The general level of prices for goods and services in an economy at a specific point in time.

Aggregate Supply Curve

The aggregate supply curve represents the total output of goods and services that businesses in an economy are willing to produce at different price levels.

Cost of Living

The amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare.