The Value of the Minimum Wage Has Declined Markedly Since

question 4

Multiple Choice

The value of the minimum wage has declined markedly since ______ and today its real value is approximately ______ what it was over half a century ago.

• A) the 1950s;75 percent of
• B) the 1950s;equal to
• C) the mid-1970s;equal to
• D) the 1980s;75 percent of
• E) the 1980s;equal to

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Definitions:

Categories

Distinct groups or classes into which items or individuals can be sorted based on shared qualities or characteristics.

Proportion

A statistical measure that indicates the fraction of the total population that possesses a particular attribute or characteristic.

Chi-squared Goodness-of-fit Test

This test assesses if observed frequencies in a single categorical variable match expected frequencies determined from a theoretical distribution.

Multinomial Distribution

A generalization of the binomial distribution, which deals with outcomes of a experiment that can fall into more than two categories.