A Simple Random Sample Is One Where Each Member of the Population

question 7

True/False

A simple random sample is one where each member of the population has a known chance (this may differ from one member to another)or probability of being chosen.

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Definitions:

Competitive Economic Behavior

Actions exhibited by businesses or individuals in an attempt to achieve a market advantage, often through price, quality, and service.

Market Economies

Economic systems in which decisions about production, investment, and distribution are based on supply and demand, and prices of goods and services are determined in free markets.

Basic Question

A fundamental inquiry that establishes the underlying principles or elements of a topic or issue.

Distribution of Income

The way in which a nation’s total earnings are divided among its population, or how the nation's wealth is shared among individuals.