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Explain, with Examples, What Is Meant by the Term Stratified

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Essay

Explain, with examples, what is meant by the term stratified random sampling.


Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.

Manufacturing Tools

Instruments, machinery, and other devices used in the process of producing goods from raw materials.

High-End

Products or services that are considered to be of the highest quality and often carry a premium price.

Comparative Advantage

The ability of a country to produce a specific good or service at a lower opportunity cost than a rival.

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