Using Probability Sampling, Sam Collected Data on the Number of Dogs

question 69

Multiple Choice

Using probability sampling, Sam collected data on the number of dogs owned in each household in the Houston____________________________ area. He analyzed his data and determined that 1.3 dogs are owned in each household. He might conclude from this information that there is a probability that at least one dog is owned by every household in Texas. Sam used____________________________to draw this conclusion.

• A) statistical inference
• B) intuition
• C) crystal ball inference
• D) intention processing
• E) perceptual mapping

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Definitions:

Futures Contracts

Standardized legal agreements to buy or sell something at a predetermined price at a specified time in the future, often used for commodities or financial instruments.

Liquidity

The ease with which an asset or security can be converted into cash without affecting its market price.

Speculators

Investors who attempt to profit from market volatility by buying and selling stocks or other financial instruments, often taking higher risks.

Hedgers

Individuals or entities that enter financial contracts to reduce exposure to risk, typically by locking in prices for commodities or currencies.