Instruction 4-9
a Sample of 300 Adults Is Selected -Referring to Instruction 4-9,what Is the Probability That an Adult

question 137

Short Answer

Instruction 4-9
A sample of 300 adults is selected.The contingency table below shows their registration status and their preferred source of information on current events.
$$\begin{array} { | l | c | c | c | c | c | } \hline { } && { \text { Preferred source of information } } \\\hline{ } && \text { Television } & \text { Newspapers } & \text { Radio } & \text { Internet } \\\hline \text { Voting registration status } & \text { Registered } & 45 & 30 & 45 & 36 \\\hline & \text { Not registered } & 35 & 44 & 45 & 20 \\\hline\end{array}$$
-Referring to Instruction 4-9,what is the probability that an adult who prefers to get his/her current information from the Internet will be a registered voter?

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Definitions:

Natural Monopoly

A market structure where a single supplier is most efficient due to the high fixed or startup costs of operating, making it impractical for new entrants to compete.

Returns to Scale

Describes how output changes in response to a proportional increase in all inputs in the production process; can be classified as increasing, constant, or decreasing.

Consumer Surplus

The gap between the aggregate amount consumers are willing to pay for a good or service and the sum they actually pay.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service relative to its market price, essentially the profit producers make.