A Subset of a Population Selected to Represent the Population

question 31

Multiple Choice

A subset of a population selected to represent the population is a

• A) subset.
• B) sample.
• C) small population.
• D) parameter.

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Definitions:

Value in Use

The utility of a product based on its ability to fulfill the needs of the user.

Value in Exchange

The worth of a good or service in comparison to other goods or services in the context of trade or commerce.

Marginal Utility

The extra pleasure or advantage gained from using an additional unit of a product or service.

Dozen Oysters

A quantity of twelve oysters, often used as a standard unit of sale in seafood markets.