Sampling Is Unnecessary If All Units in the Population Are

question 8

True/False

Sampling is unnecessary if all units in the population are identical.

---

Definitions:

Peak Efficiency

The state or condition in which a system, process, or machine operates at its highest level of effectiveness with minimal waste of resources.

Peak Efficiency

The point at which an operation is performing at its maximum effectiveness without wasting resources.

Marginal Cost

The cost incurred by producing one additional unit of a product or service.

Marginal Revenue

The additional revenue that a firm earns by selling one more unit of a good or service.