Which of the Following Is True About Using Sample Data

question 20

Multiple Choice

Which of the following is true about using sample data?

• A) All samples have the same characteristics and hence always adequately represent the underlying population.
• B) It can limit the ability to predict uncertain events that may occur because potential values outside the range of the sample data are not included.
• C) It is better to use sample data than trying to identify the underlying probability distribution and fitting a theoretical distribution to it.
• D) Using sample data in a decision model increases the ability to predict uncertain events.

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Definitions:

Organizational Strategy

A comprehensive plan outlining how a company will achieve its goals and objectives, considering its resources, market position, and competition.

Logical Argument

A reasoned, structured series of statements intended to establish a position or persuade an audience.

Conclusions

Final decisions or opinions formed after considering all the relevant facts and evidence.

Analytical Reports

Documents that provide detailed analysis and insights on specific subjects, often used to support decision-making processes.