A Simple Random Sample of Size N from a Finite

question 39

Multiple Choice

A simple random sample of size n from a finite population of size N is a sample selected such that each possible sample of size _____ of being selected.

• A) N has the same probability
• B) n has a probability of 0.5
• C) n has a probability of 0.1
• D) n has the same probability

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Definitions:

Economies of Scale

Refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Domestic Price

The price of goods or services within a country's borders, influenced by local supply and demand conditions.

World Price

the international market price of a good or service, influenced by worldwide demand and supply conditions.

Absolute Advantage

The ability of an entity to produce a good or offer a service more efficiently than its competitors, using fewer resources.