Simple Random Sampling Can Result in Under-Representation or Over-Representation of Certain

question 75

True/False

Simple random sampling can result in under-representation or over-representation of certain segments of the population.This is one of several reasons that simple random samples are almost never used in real applications.

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Definitions:

Opportunity Cost

Losing out on potential advantages from multiple alternatives by committing to one.

Crude Oil

A naturally formed, crude oil substance made up of hydrocarbon accumulations and various organic compounds.

Tractors

Agricultural machinery used for plowing, tilling, planting, and similar tasks in farming, essential for modern agriculture.

Comparative Advantage

The ability of an entity to produce a particular good or service at a lower opportunity cost than another, supporting the basis for beneficial trade.