In the Most Recent Election,19 Percent of All Eligible College

question 49

Multiple Choice

In the most recent election,19 percent of all eligible college students voted.If a random sample of 20 students were surveyed,find the probability that exactly half voted in the election.

• A) .0000
• B) .0014
• C) .0148
• D) .4997

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Definitions:

Total Cost

The sum of all costs incurred by a business to produce a specific amount of goods or services, including fixed and variable costs.

Average Variable Cost

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.

Marginal Cost

The financial outlay for producing an incremental unit of a product or service.

Short-Run Supply

The total quantity of a good or service that businesses are willing and able to sell at current prices in a short time period.