In a Survey of 500 Randomly Selected Respondents,360 Respondents (72%)said

question 54

Multiple Choice

In a survey of 500 randomly selected respondents,360 respondents (72%) said they want the United Nations (U.N.) headquarters to remain in the United States.A TV news show conducted a call-in survey and asked the same question.Of the 186,000 who phoned in their response,124,620 people (67%) said they want the U.N.out of the United States.The most reasonable statement about these different findings is that

• A) the call-in survey results should be believed because of the larger number of people who responded they want the U.N. out of the United States.
• B) the large sample size for the call-in survey indicates it is a more representative sample.
• C) the findings for the randomly selected sample more likely represent the views of the population.
• D) call-in surveys lead to more reliable findings.

Understand and apply economic mathematical formulas to real-world scenarios involving cost, productivity, and budget allocation.

Analyze the impact of variable costs on the production and pricing of goods or services.

Apply cost-minimization strategies to various business decision-making scenarios.

Evaluate the relationship between input factors and the output production process.

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Definitions:

Adoption

In corporation law, a corporation’s acceptance of a preincorporation contract by action of its board of directors, by which the corporation becomes liable on the contract.

Novation

The act of replacing one obligation with a new one, extinguishing the original obligation.

Ratification

Ratification is the formal approval or confirmation of an action or agreement, often used in the context of treaties, contracts, or laws.

Promoters

Individuals or companies responsible for establishing a corporation or business venture, including raising capital and completing legal formalities.