In a Poll of 2500 Residents of a State, It

question 31

Essay

In a poll of 2500 residents of a state, it is found that 480 are in favor of naming the grasshopper the state insect. What is the sample proportion for this poll?

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Definitions:

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity of that good consumers are willing to purchase at various prices.

Profit-Maximizing Output

The level of production at which a firm achieves the highest possible profit.

Antimacassars

Small pieces of cloth or paper placed over the backs or arms of chairs or sofas to protect them from grease or dirt.

Monopolistic Distributor

A sole provider of a product or service in a particular market, facing little to no competition.