As of 2013,the Outstanding U

question 56

Multiple Choice

As of 2013,the outstanding U.S.currency is more than $1 trillion,which suggests that the typical U.S.citizen holds $3,600 in cash.Is this an accurate inference? Why?

• A)Yes;because dividing total currency by total U.S.population roughly works out to $3,600 per person.
• B)No;because criminals and foreigners hold large sums of dollars,so the average citizen holds far less.
• C)No;because the average citizen probably does not have $3,600 in her checking account.
• D)Yes;because the Fed rarely makes accounting mistakes when computing M1.
• E)none of the above

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Definitions:

Population Proportions

The fraction or percentage of members in a population that exhibit a particular characteristic.

P-value

A measure in statistical hypothesis testing representing the probability of observing test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

OSHA

The Occupational Safety and Health Administration, a U.S. government agency responsible for enforcing workplace safety and health regulations.

Worker Safety

Policies, procedures, and measures implemented to ensure the health and safety of employees in their workplace.