________ Is a Probability Sampling Technique That Uses a Two-Step

question 93

Multiple Choice

________ is a probability sampling technique that uses a two-step process to partition the population into subpopulations,or strata.Elements are selected from each stratum by a random procedure.

• A)Stratified sampling
• B)Simple random sampling
• C)Systematic sampling
• D)Cluster sampling

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Definitions:

Automobile Insurance Costs

The expenses related to insuring a car against accidents, theft, and other risks.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Long-Run Average Cost Curve

A graphical representation that shows the lowest average cost at which a firm can produce any given level of output in the long run, when all inputs are variable.

Small Firms

Businesses that operate on a smaller scale than larger enterprises, often characterized by fewer employees and lower income or revenue.