The Magnitude of Random Sampling Error in a Study Depends

question 28

Multiple Choice

The magnitude of random sampling error in a study depends upon the ______ of a sample and the amount of ______ in the population characteristic being measured.

• A) error; bias
• B) size; variation
• C) variation; error
• D) bias; variation

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Definitions:

Cost Center Evaluation

The process of analyzing the performance and efficiency of a department or unit within an organization that does not directly generate revenue.

Controllable Margin

The amount of profit or contribution margin that a manager can directly influence by controlling costs and generating revenues.

Contribution Margin

The amount by which a product's selling price exceeds its total variable costs, indicating how much contributes to covering fixed costs and generating profit.

Dollar Amount

A specific value of money in terms of the currency of the United States, expressed in dollars.