The Difference Between the Sample Size and the Population Size

question 119

True/False

The difference between the sample size and the population size is called the sampling error.

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Definitions:

Median Income

The middle income in a list of incomes, where half of the incomes are higher and half are lower.

Gini Coefficient

A measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Mean Household Income

The average income earned by households in a specific geographical area, calculated by summing all incomes and dividing by the number of households.

Industrially Developed

Referring to countries or regions that have advanced economic bases, primarily in manufacturing and services, and high levels of income per capita.