A Simple Random Sample Is a Type of Representative Sample

question 13

True/False

A simple random sample is a type of representative sample in which all subgroups within a larger population have an equal probability of being selected.

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Definitions:

Property Rights

Legal rights to use, control, and derive benefits from resources such as land, intellectual property, and personal assets.

Markets

Any structure that allows buyers and sellers to exchange any types of goods, services, and information.

Central Planners

Officials or bodies within a government responsible for making decisions about the economy’s production and distribution of goods and services.

Communal Ownership

A system where property and resources are owned collectively by a community or society rather than by individual members or companies.