The Average Age in a Sample of 90 Students at City

question 72

Multiple Choice

The average age in a sample of 90 students at City College is 20. As a result of this sample, it can be concluded that the average age of all the students at City College

• A)must be more than 20, since the population is always larger than the sample
• B)must be less than 20, since the sample is only a part of the population
• C)could not be 20
• D)could be larger, smaller, or equal to 20

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Definitions:

Price Floor

A government or group-imposed minimum price set above the equilibrium price, ensuring sellers cannot charge less than this amount.

Market-clearing Price

The price at which the quantity supplied of a product equals the quantity demanded, effectively clearing the market of any surplus or shortage.

Pumpkins

A type of squash plant known for its round, orange fruit used primarily for decoration, cooking, and as a symbol of Halloween.

Price Ceilings

A maximum price legally allowed for a product or service to safeguard the interests of consumers.