The Primary Purpose of Cluster Sampling Is to Make the Sampling

question 47

Multiple Choice

The primary purpose of cluster sampling is to make the sampling process ---------.

• A)more accurate
• B)less biased
• C)more convenient
• D)more economical

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Definitions:

Variance

A statistical measure that represents the dispersion of a set of data points or investment returns around their mean, indicating their spread or risk.

Indifference Curve

An indifference curve represents a graphical depiction of different bundles of goods between which a consumer is indifferent, reflecting their preferences for those goods' combinations.

Mean-Standard Deviation Graph

A graphical representation used in finance to show the risk (standard deviation) and return (mean) of different investments.

Utility Function

A mathematical representation of a decision-maker's preference ranking for a set of outcomes or goods, reflecting their attitude towards risk.