A college has recently finished building a new dining hall on campus. School administrators wish to survey students regarding their thoughts on the new dining hall. Which of the options below represents a correct sampling method?

• A.An administrator surveys the first 50 students that enter the new dining hall that evening.
• B.The administrators randomly select students from each class who are then surveyed via phone.
• C.An administrator surveys the first 50 students that arrive to hear a guest speaker.
• D.The school posts a survey on their Facebook page and collects responses from current students.

Comment: *

Name: *

Email: *

Verification: *

A company manager commissions a report to study the relationship between sales volume (in thousands of units) and the number of computers in each of the company's offices. Based on the regression output, which of the following statements is correct?
Exhibit:

• A.When the number of computers in an office increases by 1, the average sales volume increases roughly by 155,000 units.
• B.When the number of computers in an office increases by 1, the average sales volume decreases by 410 units.
• C.Less than 3 percent of the variability of sales volume is explained by the number of computers in an office.
• D.There is a strong positive linear relationship between sales volume and number of computers in an office.

Comment: *

Name: *

Email: *

Verification: *

Exhibit:

The scatterplot below shows the relationship between the number of wins for 30 Major League Baseball teams in 2013 and their respective payrolls. The best fit line is included in the scatterplot. Which option below MOST accurately describes the best fit line shown?

• A.y = 0.09 + 72.08x
• B.y = 0.09 - 72.08x
• C.y = 72.08 + 0.09x
• D.y = 72.08 - 0.09x

Comment: *

Name: *

Email: *

Verification: *

A pharmaceutical company was recently awarded a 20 year patent for a new medicine it has developed. Which of the following results could be a consequence of this patent? (Select all that apply.)

• A.The company will drive its competitors out of the pharmaceutical industry, limiting innovation.
• B.The high price of the medicine will result in insufficient demand.
• C.The cost to produce the medicine will remain high after the patent expires.
• D.The pharmaceutical company will charge higher prices for the drug.
• E.Pharmaceutical companies will be incentivized to develop new medicines in the future.

Comment: *

Name: *

Email: *

Verification: *

A regulatory agency decides to enforce a price ceiling equal to marginal cost for a local utility provider which acts as a monopoly. Which of the following observations is true?

• A.The price will be exactly the same as it would be without regulation.
• B.The government might have to pay the firm a subsidy to prevent it from exiting the industry.
• C.The demand curve will shift outward.
• D.New utility companies will be incentivized to enter the industry.

Comment: *

Name: *

Email: *

Verification: *