Suppose That

question 95

Multiple Choice

Suppose that .06 of each of two populations possess a given characteristic.Samples of size 400 are randomly drawn from each population.The standard deviation for the sampling distribution of differences between the first sample proportion and the second sample proportion (used to calculate the z score) is _______.

• A)0.00300
• B)0.01679
• C)0.05640
• D)0.00014
• E)0.12000

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Definitions:

Income Increases

A situation where an individual's or household's earnings rise, leading to potential changes in spending behavior.

Utility Maximizing

The economic principle that individuals or firms seek to achieve the highest level of satisfaction or profit from their consumption or production choices.

Budget Constraint

The limit on the consumption bundles that a consumer can afford based on their income and the prices of goods and services.

Inferior Good

A type of good for which demand decreases as the consumer's income increases, contrasting with normal goods.