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Cathy conducted a survey on the relationship between substance abuse and average annual income of an individual. She divided the annual incomes into three ranges, labelled them as low income, middle income, and high income, and found the groups to be present in the target population in the ratio of 4:5:1. Cathy needed a sample of 100 participants. She selected 40, 50, and 10 people from each income group in a manner such that each individual in a subgroup had equal chance of getting selected into the respective subsample. Which of the following sampling techniques has Cathy used in this scenario?
Air Tanks
Reservoirs used in pneumatic systems of vehicles, especially in air brake systems, to store compressed air needed for the operation of brakes and other components.
Diversification
The strategy of spreading investments among different financial instruments, industries, or other categories to reduce risk.
Portfolio Risk
Describes the uncertainty or variability of returns associated with a portfolio of investments, highlighting the combined risk of individual assets.
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