Three Techniques That Are Typically Used in Classical Variables Sampling

question 147

Multiple Choice

Three techniques that are typically used in classical variables sampling are _______.

• A)mean-per-unit
• B)difference
• C)ratio
• D)All of these answer choices are correct.

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Definitions:

Utility Function

An equation that calculates the total utility a consumer gains from consuming a certain quantity of goods and services.

Indifference Curves

Graphical representations of all the combinations of goods and services that provide equal satisfaction to a consumer.

Income

The monetary return or earnings received by an individual or entity, often measured on a regular basis, such as monthly or annually.

Consumption Bundle

A combination of goods and services that a consumer chooses to consume given their budget constraints.