A Stratified Random Sample Is Conducted to Ensure That

question 4

Multiple Choice

A stratified random sample is conducted to ensure that

• A) each subject in the population has an equal chance of being selected
• B) each sub-population is adequately represented in the study
• C) choosing a subject will increase the probability of similar subjects being chosen
• D) the research hypothesis being tested will be confirmed.

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Definitions:

Expected Value

The projected value of a variable, computed as the average of all possible outcomes weighted by their probabilities.

Dollar Contribution

The amount of money that sales contribute to the firm's profit before fixed costs are subtracted.

Decision Trees

A graphical model used in decision making, representing different choices and their possible outcomes, including risks, costs, and benefits.

Payoffs

Refers to the outcomes or results of a decision, strategy, or game, usually measured in terms of profit or loss.