Systematic Selection Involves the Selection of a Population for Testing

question 10

True/False

Systematic selection involves the selection of a population for testing by dividing the number of items in a population by the sample size, resulting in the sampling interval (n).

---

Definitions:

Inefficiency

A situation where resources are not used in the best possible way, often leading to waste and a lower output than could be achieved.

Trade

The exchange of goods, services, or both between two or more parties.

Factors of Production

The assets employed to produce goods and services, encompassing land, labor, capital, and entrepreneurship.

Command Economy

A type of economic system where production, investment, prices, and incomes are determined centrally by a government.