The Chief Aim of Probability Sampling Is to Be Able

question 7

Multiple Choice

The chief aim of probability sampling is to be able to select:

• A)simple random samples
• B)a sample whose statistics will accurately portray an unknown population parameter
• C)a sample whose parameters will accurately portray an unknown population statistic
• D)a sample whose statistics will accurately portray a known population parameter
• E)a sample whose unknown statistics will accurately portray a known parameter

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Definitions:

Advertising Budget

The amount of money a business plans to spend on marketing and promotion activities.

Contribution Margin

The amount remaining from sales revenue after variable costs have been deducted, indicating how much contributes to covering fixed costs and generating profit.

Variable Expense Ratio

A financial metric that measures variable costs as a percentage of sales, reflecting how those costs fluctuate with production output.

Operating Leverage

A measure of how sensitive a company's operating income is to a change in sales volume, indicating the level of fixed costs in the business structure.