A Friend of Yours, Who Is Not Taking Statistics, Wonders

question 8

Essay

A friend of yours, who is not taking statistics, wonders why it is that anyone would choose to take a sample. "Obviously," she says, "you would get better information from a census." In a short paragraph, explain why it is that statisticians take samples rather than taking a census.

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Definitions:

Indirect Materials

Materials used in the production process that cannot be directly linked to a specific product, such as lubricants and cleaning supplies used in machinery.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor, such as utilities, depreciation, and maintenance of factory equipment.

Direct Labor Costs

The wages of employees who are directly involved in the production of goods or services.

Debit Balance

An accounting term describing a balance where total debits exceed total credits in an account.