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What Is the Advantage of Using a Stratified Random Sample

question 45

Essay

What is the advantage of using a stratified random sample over a sample gathered by selecting volunteers?


Definitions:

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time period.

Tariff

A tax on goods produced abroad and sold domestically.

Exchange Rate

The price of one currency in terms of another, determining how much foreign currency can be obtained with a unit of domestic currency.

Net Exports

The value of a country's total exports minus its total imports, representing the net trade of goods and services with other countries.

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