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Vince Wants to Draw a Sample of People in Illinois

question 32

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Vince wants to draw a sample of people in Illinois who own 1960s Schwinn Sting-Ray children's bicycles, a collector's item. There is no list of the people, but there is an informal network acquaintances) of Sting-Ray owners. What type of sampling should Vince use?


Definitions:

Defined Benefit Pension Plan

A type of pension plan where the benefits that a retiree will receive are calculated based on factors such as salary history and duration of employment.

Service Cost

The expense recognized by an employer for the portion of projected benefit obligations earned by employees in the current period in a defined benefit plan.

Interest Cost

The total interest expense associated with borrowing money, including the amortization of any discount or premium, relevant to the period in which it is incurred.

Prior Service Cost Amortization

The process of allocating the cost of retroactively awarded benefits of an employee's pension plan over several years.

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