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What Are Public Opinion Polls? to Whom Are They Useful

question 37

Essay

What are public opinion polls? To whom are they useful? How are public opinion polls conducted? Are they reliable? Why or why not?


Definitions:

Expected Utility Function

An expected utility function quantifies an individual's preferences under uncertainty, ranking them according to the expected level of satisfaction or utility.

Sure Payment

A guaranteed or fixed payment that is certain to be paid, without any risk or fluctuation.

Probability

A quantification of how probable an event is, with the scale going from 0 to 1.

Lottery

A lottery is a form of gambling which involves drawing lots for a prize, or the allocation of a resource or a chance event resulting in a significant gain to the holder.

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