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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The chairman of the statistics department in a certain college believes that 70% of the department's graduate assistantships are given to international students.A random sample of 50 graduate assistants is taken.
-Assume that the chairman is correct and P = 0.70.What is the sampling distribution of the sample proportion
?
Domestic Consumers
Individuals or households within a country who purchase goods and services for personal use.
Domestic Producers
Local manufacturers or firms that produce goods within a country's borders for the domestic market.
Producer Surplus
The variance between the expected payment by producers for a good or service and the real compensation they achieve.
Equilibrium Price
A price point in the market where the supply of goods meets the demand for them.
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