The Most Significant Factor in Calculating Sample Size (N)is the Size

question 4

True/False

The most significant factor in calculating sample size (n)is the size of the population (N).For example,if you calculated that you needed a sample size of 300 in order to have an accurate sample for your hometown,it would take at least 10 times this amount,or about 3,000,in order to have an accurate sample representing the entire United States.

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Definitions:

Standard Markup Pricing

A pricing technique where the selling price of a product is determined by applying a specified percentage markup to its cost.

Bundle Pricing

A marketing strategy where several products or services are offered for sale as a combined package at a reduced price.

Cost-Plus Pricing

A pricing method where the sale price is set by applying a predetermined markup to the cost per unit of a product.

Experience-Curve Pricing

A pricing strategy that takes into account the reduction in costs and increase in efficiency that occurs as a company gains experience producing a product or service.