Which of the Following Types of Samples Is Most Likely

question 47

Multiple Choice

Which of the following types of samples is most likely to result in sampling bias?

• A) Stratified random sampling
• B) Systematic random sampling
• C) Cluster sampling
• D) Convenience sampling

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Definitions:

High-cost Producer

A producer or company which has higher costs of production compared to competitors, often due to inefficient processes or higher input costs.

Low-cost Producer

A manufacturer or service provider with a competitive advantage allowing them to offer goods or services at a lower price than competitors, often due to operational efficiencies.

Consumer Surplus

The variance between the aggregate amount consumers can and will pay for a good or service versus the amount they actually spend on it.

Producer Surplus

is the difference between what producers are willing to accept for a good or service versus what they actually receive.