A MonsterCom Pool of 3,057 Individuals Asked, "What's the Longest Vacation

question 107

Multiple Choice

A Monster.com pool of 3,057 individuals asked, "What's the longest vacation you plan to take this summer?" The following relative frequency distribution summarizes the results. The 95% confidence interval for the proportion of people who plan a one-week vacation this summer is ________.

• A) [0.345, 0.375]
• B) [0.345, 0.382]
• C) [0.343, 0.377]
• D) [0.338, 0.382]

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Definitions:

Wheat Farmers

Individuals or entities engaged in the cultivation of wheat as a crop, playing a vital role in global food supply and commodities markets.

Price Takers

Price Takers are firms or individuals that accept the market price as given, with no influence over it, typically in markets with many sellers and buyers.

Economic Profits

The difference between a firm’s total revenue and its total costs, including both explicit and implicit costs, indicating the financial success beyond breaking even.

Profit-maximizing Firm

A business whose goal is to achieve the highest possible financial gain by adjusting production and pricing strategies based on market conditions.