According to the 2011 Gallup Daily Tracking Polls (Www

question 129

Multiple Choice

According to the 2011 Gallup daily tracking polls (www.gallup.com, February 3, 2012) , Mississippi is the most conservative U.S. state, with 53.4 percent of its residents identifying themselves as conservative. What is the probability that at least 60% of a random sample of 200 Mississippi residents identify themselves as conservative?

• A) 0.0307
• B) 0.3530
• C) 0.4847
• D) 0.9693

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Definitions:

Price Discrimination

A method where a single provider offers identical or nearly identical items or services at different price points in various markets.

Profits

The difference between the revenue a company earns from selling its products or services and its total costs.

Price Discrimination

The strategy of selling the same product at different prices to different groups of buyers.

Oligopoly

A market structure characterized by a small number of firms that hold a significant market share, leading to limited competition.