If a Public Opinion Survey Reports Finding That a Particular

question 15

Multiple Choice

If a public opinion survey reports finding that a particular candidate is supported by 60 percent
Of voters and that there is a 95 percent chance that support for this candidate is somewhere
Between 63.1 percent and 56.9 percent,the 3.1 percent variation from 60 percent is called

• A)the selection bias.
• B)the margin of error.
• C)the standard deviation.
• D)the sampling distribution of the mean.

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Definitions:

Industry Entry

Refers to the process by which new competitors join an existing market, often affecting competition and market dynamics.

Economic Costs

The total cost of choosing one action over another, including both explicit costs (direct payment) and implicit costs (opportunity costs).

Normal Rate

Typically refers to a baseline or standard rate of interest, production, or growth that is considered usual or expected under normal circumstances.

Minimum Efficient Scale

The smallest level of production at which a firm can achieve the lowest long-run average total cost.