The Distinguishing Feature of Probability Samples Is That

question 4

Multiple Choice

The distinguishing feature of probability samples is that

• A) they involve personal judgment somewhere in the selection of sample elements.
• B) each population element has an equal chance of being included in the sample.
• C) each population element has an equal chance of being included in the sample and every combination of n population elements is a sample possibility.
• D) each population element has a known chance of being included in the sample.
• E) they will always be more representative of the population than nonprobability samples.

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Definitions:

Variable Manufacturing Overhead

Costs that vary with production volume, such as indirect materials and utilities, related specifically to the manufacturing process.

Labor-Hours

The total number of working hours clocked by employees within a specific period, reflecting the labor input.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead to individual units of output on the basis of some common activity, such as machine-hours or labor hours.

Labor Cost

The total expense incurred by a company for the compensation of its employees.