On the Most Recent Tax Cut Proposal,a Random Sample of Democrats

question 81

Multiple Choice

On the most recent tax cut proposal,a random sample of Democrats and Republicans in the Congress cast their votes as follows: Determine the expected frequencies for both the Democrats and Republicans who oppose the tax cut proposal for the chi-square test of independence.

• A)68.8,70.2
• B)67.3,67.3
• C)78,61
• D)69.5,69.5

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Definitions:

Income Elasticity Coefficient

A measure that shows how much the demand for a good or service changes in response to a change in consumers' income.

Recessions

are characterized by a significant decline in economic activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income, and wholesale-retail trade.

Substitutes Goods

Products or services that can replace or be used in place of another to fulfill the same need or desire.

Complementary Goods

Products or services that are consumed together because the use of one enhances the use or value of the other.