The Error That Occurs Because a Sample, and Not the Entire

question 37

Multiple Choice

The error that occurs because a sample, and not the entire population, is used to estimate a population parameter is a

• A)nonsampling error
• B)sampling error
• C)judgment error
• D)standard error

---

Definitions:

Operating Income

The income generated from the core operations of a business, excluding costs and expenses like taxes and interest payments.

Direct Materials Price Variance

Direct materials price variance refers to the difference between the actual cost of materials used in production and the standard cost expected for those materials.

Data Collected

Information gathered from various sources used for analysis, decision-making, or reporting in a wide array of contexts.

Variable Costs

Expenses that vary in relation to the amount of activity or the quantity of output produced.