Once They Have Determined the Sampling Unit, Marketers Must Develop

question 24

True/False

Once they have determined the sampling unit, marketers must develop a sampling frame so that a small section in the target population has a greater chance of being sampled.

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Definitions:

Transitivity

Transitivity in decision-making implies that if a person prefers option A over B, and B over C, then the person should also prefer A over C, forming a consistent order of preferences.

Completeness

In decision theory, the idea that every set of choices can be ranked in an order of preference, allowing for a consistent choice under different scenarios.

Indifference Curve

A graph representing combinations of goods among which a consumer is indifferent, reflecting their preferences and utility.

Utility

In economics, the satisfaction or benefit derived by consuming a product or service; a measure of preferences over some set of goods and services.