A Television Show Runs a Call-In Survey Each Morning

question 6

Multiple Choice

A television show runs a call-in survey each morning. One January morning the show asked its viewers whether they were optimistic or pessimistic about the economy in the coming year. The majority of those phoning in their responses answered "pessimistic" and the show reported the results as statistically significant. We may safely conclude

• A) there is deep concern in the nation about the economy.
• B) it is unlikely that if all Americans were asked their opinion, that the result would differ from that obtained in the poll.
• C) there is strong evidence that the majority of Americans are pessimistic about the economy in the coming year.
• D) very little other than the majority of those phoning in are pessimistic about the economy in the coming year.

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Definitions:

Net Operating Income

Profits derived from a company's everyday business operations, excluding taxes and interest charges.

Variable Cost Per Unit

The expense associated with producing one additional unit of product, which changes with the level of output.

Annual Fixed Costs

Costs that do not vary with the level of production or sales volume within a certain range and time period, such as rent, salaries, and insurance.

Turnover

A financial metric indicating the rate at which a company's inventory or assets are replaced through sales in a given period.