Which Statement Is Correct About Defining the Target Population

question 68

Multiple Choice

Which statement is correct about defining the target population?

• A)Imprecise definition of the target population will result in research that is ineffective at best and misleading at worst.
• B)Defining the target population involves translating the problem definition into a precise statement of who should and should not be included in the sample.
• C)The target population should be defined in terms of elements,sampling units,extent,and time.
• D)All of the above statements are true.

Explain the conditions under which resources are efficiently allocated in competitive markets.

Understand the impact of new firm entry and exit on market equilibrium and economic profits in a competitive price-taker market.

Identify the factors driving firms to enter or exit the market.

Recognize the role of economic profits and losses in resource allocation and market signals.

---

Definitions:

Contingency Table

A tabular method used to summarize the relationship between several categorical variables, showing distribution of frequencies.

Qualitative Variables

Variables that describe or categorize attributes or properties of a subject without using numerical values.

Chi-Square Test

A statistical test used to determine if there is a significant difference between observed frequencies and expected frequencies in one or more categories.

Expected Frequency

The number of times an event is predicted to occur in a statistical experiment based on the probabilities of outcomes.