Sampling Error Is Based on Which of the Following

question 58

Multiple Choice

Sampling error is based on which of the following?

• A)Sample size
• B)Amount of diversity in sample
• C)Sampling ratio
• D)A & C
• E)A & B

---

Definitions:

Profit-maximizing

A strategy aiming to achieve the highest profit possible by adjusting output levels, pricing, or other operational variables.

Produces

The act or process of creating goods and services.

Loss

A situation in which expenses exceed revenues, leading to negative profit.

Monopolistic Competitor

In market economics, a monopolistic competitor refers to a company operating in a sector filled with competitors, yet it has enough differentiation to have some control over its pricing.