40. By how much would taxes in your state have to be in creased to cut tuition at community colleges and state universities in half? 41. s your local electric company overcharging its cus- tomers? SUMMARY 1.1 Inductive and Deductive Reasoning a. Inductive reasoning is the process of arriving at a general conclusion based on observations of specific examples. The conclusion is called a conjecture. b. A case for which a conjecture is false is called a counterexample. c. Deductive reasoning is the process of proving a specific conclusion from one or more general statements The statement that is proved is called a theorem. REVIEW EXERCISES In Exercises 1-2, find a counterexample to show that each of the statements is false.