According to the 2011 Gallup Daily Tracking Polls (Www

question 35

Multiple Choice

According to the 2011 Gallup daily tracking polls (www.gallup.com,February 3,2012) ,Mississippi is the most conservative U.S.state,with 53.4 percent of its residents identifying themselves as conservative.What is the probability that fewer than 45 respondents of a random sample of 100 Mississippi residents do not identify themselves as conservative?

• A) 0.0499
• B) 0.1873
• C) 0.3745
• D) 0.6255

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Definitions:

Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, leading to market balance.

Brings Together

Describes the act of gathering or assembling people, items, or ideas in one location or conceptual framework.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell, holding other factors constant.

Demand

The desire for a particular good or service combined with the ability and willingness to pay for it.