After the passage of an increase to the minimum wage in a certain city, some people wanted to collect data as to the impact such would have on businesses. The local business leadership council received 180 calls from its members. 160 of those calls predicted that the increase in the minimum wage would "severely hamper the financial health of small businesses." Briefly describe a possible problem associated with using these results to estimate the actual percentage of all members of the local business leadership council who would feel similarly. (Use the lecture video as your guide!)
After the passage of an increase to the minimum wage in a certain city, some people wanted to collect data as to the impact such would have on businesses. The local business leadership council received 180 calls from its members. 160 of those calls predicted that the increase in the minimum wage would "severely hamper the financial health of small businesses." Briefly describe a possible problem associated with using these results to estimate the actual percentage of all members of the local business leadership council who would feel similarly. (Use the lecture video as your guide!)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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After the passage of an increase to the minimum wage in a certain city, some people wanted to collect data as to the impact such would have on businesses. The local business leadership council received 180 calls from its members. 160 of those calls predicted that the increase in the minimum wage would "severely hamper the financial health of small businesses."
Briefly describe a possible problem associated with using these results to estimate the actual percentage of all members of the local business leadership council who would feel similarly. (Use the lecture video as your guide!)
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