Identify the Type of Sampling Used

question 84

Multiple Choice

Identify the type of sampling used.
-A market researcher randomly selects 100 homeowners under 60 years of age and 200 homeowners over 60years of age. What sampling technique was used?

• A) stratified
• B) simple random
• C) cluster
• D) convenience
• E) systematic

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Definitions:

Lowest Price

The minimum cost at which a product or service can be purchased, often emphasized in marketing to attract consumers.

Short Run

A period during which at least one input, such as plant size or capital, is fixed and cannot be changed.

Maximum Profit

The highest possible financial gain achievable by a firm from its operations, after all costs have been subtracted from total revenue.

Output

The quantity of goods or services produced within a given time frame by a firm, industry, or country.