Susan Would Like to Conduct a Survey of Homeowners in the Meadowbrook

question 88

Multiple Choice

Susan would like to conduct a survey of homeowners in the Meadowbrook neighborhood to get their opinions on proposed road modifications in the area. Which of the following is an example of a simple random sample?

• A)Susan selects the first 20 homes that she passes as she walks into the entrance of the neighborhood.
• B)Susan randomly chooses two streets in the neighborhood and selects every home on these streets.
• C)Susan selects every third house on each street in the neighborhood.
• D)None of these choices describes a simple random sample.

---

Definitions:

Law of Diminishing Marginal Utility

An economic principle stating that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.

Marginal Utility

Marginal Utility is the added satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Diminishing Marginal Utility

The principle that the utility or satisfaction gained by consuming each additional unit of a good or service decreases as more of that good or service is consumed.

Marginal Utility

The extra pleasure or benefit derived from consuming an additional unit of a product or service.