A Poll Was Conducted of More Than 50,000 Buyers of New

question 1

Multiple Choice

A poll was conducted of more than 50,000 buyers of new cars, 90 days after the cars were purchased. The data on problems per 100 vehicles for cars made by Toyota and General Motors (GM) are given in the time plot below for the years 1998-2004. The solid line is for GM and the dashed line is for Toyota. In 2002, the number of problems per 100 vehicles was:

• A)about twice as high for GM as for Toyota.
• B)about twice as high for Toyota than for GM.
• C)about 20% higher for Toyota than for GM.
• D)about 20% higher for GM than for Toyota.

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Definitions:

Excess Demand

A market condition where the quantity demanded of a product exceeds the quantity supplied at a given price, leading to upward pressure on prices.

Selection Bias

Selection bias occurs when the sample used is not random.

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A U.S.-based organization that advocates for gun rights, promotes firearm competency, and provides firearm training.

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