A Gallup Poll Asked, "What Is Your Favorite Summer Olympics

question 32

Multiple Choice

A Gallup Poll asked, "What is your favorite Summer Olympics event?" Of the people asked, 27 percent said, "swimming." Here is what Gallup says about the accuracy of this poll:
The results are based on telephone interviews with a sample of 1007 national adults, aged 18 years and older. For results based on the total sample of national adults, one can say with 95 percent confidence that the maximum error attributable to sampling and other random effects is plus or minus 3 percentage points. In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.
In Gallup's statement, "95 percent confidence" means (assuming there is no bias) that:

• A) Gallup knows 95 percent of all adults would give the same answer that this poll found.
• B) if Gallup were to repeat this poll many times, 95 percent of all the polls would find that 27 percent of the people interviewed would say swimming is their favorite Summer Olympic event.
• C) this poll is one of the 95 percent of all Gallup polls that give correct results.
• D) if Gallup were to repeat this poll many times, 95 percent of the results would be within plus or minus 3 percentage points of the truth about the population.

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Definitions:

Elasticity of Labor Demand

A measure of how the quantity of labor demanded by employers changes in response to a change in wages or salary levels.

Close Substitutes

Products or services that can easily replace each other in consumption, showing a high level of interchangeability.

Resource Demand

The desire for resources (such as labor, capital, and natural resources) based on their contribution to the production process, influenced by factors like technological change and product demand.

Elasticity of Resource Demand

A measure of how much the quantity demanded of a resource changes in response to a change in its price.