Based on the Nielsen Ratings,the Local CBS Affiliate Claims Its

question 73

Multiple Choice

Based on the Nielsen ratings,the local CBS affiliate claims its 11 p.m. newscast reaches 41% of the viewing audience in the area. In a survey of 100 viewers,36% indicated that they watch the late evening news on this local CBS station. What is the sample proportion?

• A)0.41
• B)0.36%
• C)0.41%
• D)0.36

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Definitions:

Long-Run Minimum Cost

The lowest cost at which a firm can produce any given level of output in the long run, when all inputs can be varied.

Average Total Cost Curve

A graph that shows the cost per unit of output at different levels of production, illustrating how average total cost changes with changes in output.

Short-Run

A period in which at least one of a firm's inputs is fixed and cannot be changed.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced, which decreases as production increases.