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Veseljchak [2.6K]
3 years ago
15

A news release for a diet product company reports: There's good news for the 65 million Americans currently on a diet. Its study

showed that people who lose weight can keep it off. The sample was 20 graduates of the company's program who endorse it in commercials. The results of the sample are probablyA. unbiased, but they could be more accurate. A larger sample size should be used.B. biased, overstating the effectiveness of the diet.C. biased, understating the effectiveness of the diet.D. None of the above.
Business
1 answer:
dexar [7]3 years ago
6 0

Answer:

C. biased, understating the effectiveness of the diet.

Explanation:

As the company promises the population of America which is too huge, just on the study based on 20 employees of the company itself.

This clearly means that the company is trying to sell the product with false reports as the sample size of study is to small to represent entire American Population.

Further that too the employees could be influenced to get the false results.

As since the employees could be influenced and that the results can be altered accordingly, the report is biased, and is misleading.

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A cartel can be defined as a formal agreement reached (collusion) in an oligopolistic industry between two or more business firms that are saddled with the responsibility of producing goods and services in order to make price and output decisions such as price regulation, total level of output or supply, allocation of customers, market shares, territory allocation, division of profits, collusive bidding etc.

This ultimately implies that, when a group of independent firms in an oligopolistic industry collude by reaching a formal agreement to regulate supply, as well as manipulate or regulate prices, they do so to increase their profits and market dominance.

Hence, firms colluding earn short run economic profits.

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By definition, empirical probability is equal to C. Number of successful trials/Total number of trials.

<h3>What is an empirical probability?</h3>

It should be noted that empirical probability simply means a experimental probability that is based on historical data.

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