The Advantage of Nonprobabilistic Sampling Is That It Is Inexpensive

question 23

Multiple Choice

The advantage of nonprobabilistic sampling is that it is inexpensive and _____.

• A) provides statistically valid statements about the precision of the estimate
• B) can provide valid parameter estimates
• C) is error free
• D) None of the answers is correct.

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Definitions:

Ownership

Refers to the legal rights and interests a person or entity has in a property, asset, or business, entitling them to use, manage, and enjoy its benefits.

Owner's Drawings

Withdrawals made by the owner from the business for personal use, considered as a reduction in the equity.

Owner's Capital

The amount of money and assets invested in a business by its owner, minus any withdrawals.

Net Income

The residual financial gain of a business following the deduction of every expense, tax, and cost from its total revenue.