A Recent Poll of 700 People Who Work Indoors Found

question 12

Multiple Choice

A recent poll of 700 people who work indoors found that 278 smoke. If the researchers want to be 98% confident of their results to within 3.5 percentage points, how large a sample is necessary?

• A) 751
• B) 1062
• C) 33
• D) 532

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Definitions:

Output

The total amount of goods and services produced by a firm or country.

Average Fixed Costs

The fixed expenses of a business divided by the number of units produced, demonstrating how those costs dilute with increased production.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of earning income from these resources elsewhere.

Explicit Costs

Direct, out-of-pocket payments made for operations or production, such as wages, rent, and materials.