A Completely Randomized Design Is Useful When the Experimental Units

question 64

Multiple Choice

A completely randomized design is useful when the experimental units are

• A) homogeneous.
• B) heterogeneous.
• C) ​clustered.
• D) stratified.

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Definitions:

Materials Markup

A pricing method where a percentage is added to the cost of materials to cover overhead and profit.

Markup Percentage

A measure of how much the price of a product or service is increased over its cost to the seller, expressed as a percentage of the cost.

Variable Product Cost

Expenses that fluctuate in direct proportion to the amount of output produced, including direct labor and raw materials.

Fixed Costs

Expenses that do not change with the level of production or sales, including rent, salaries, and insurance, providing contrast to variable costs.