The entity that selects the president and vice president, consisting of 538 electors chosen from the states and the district of columbia based on the election outcome within each state and proportioned according to state population is known as the:

The Electoral College

Explanation:

The Electoral College is the constitutional body which forms every four years in order to elect a president and vice president of the United States. To win a presidency, an absolute majority is needed, of at least 270 electors. Each state get a number of electors which is proportional to the size of the state (biggest states have the most electors). Most of the time, electors follow the will of the people and give their vote to the candidate who won the elections by popular vote.

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