THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 18

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A store has determined that 28% of all refrigerators purchasers will also purchase a service agreement.In one month,250 refrigerators are sold to customers who can be regarded as a random sample of all purchasers.
-What are the mean and standard error of the sampling distribution for the proportion of those who will purchase a service agreement?

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Definitions:

Industrial Regulation

The older and more traditional type of regulation in which government is concerned with the prices charged and the services provided to the public in specific industries. Differs from social regulation.

Monopolization

The process or state where a single company achieves dominant control over an entire market, minimizing competition.

Celler-Kefauver Act

The federal law of 1950 that amended the Clayton Act by prohibiting the acquisition of the assets of one firm by another firm when the effect would be less competition.

Vertical Mergers

Mergers between companies that operate at different stages of the production processes in the same industry, intended to increase efficiencies or capture more of the supply chain.