Identify Which of These Types of Sampling Is Used: Random

question 83

Multiple Choice

Identify which of these types of sampling is used: random, stratified, systematic, cluster, convenience.
-To avoid working late, a quality control analyst simply inspects the first 100 items produced in a day.

• A)Cluster
• B)Systematic
• C)Random
• D)Convenience
• E)Stratified

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Definitions:

Firm

An organization that produces goods or provides services, usually with the aim of making a profit.

Economic Profit

The difference between the total revenue generated by a business and the total costs, including both explicit and implicit costs.

Minimum Return

The lowest expected or required return on an investment over a specified period.

Long Run

A period of time in which all factors of production and costs are variable, allowing for all adjustments to take place in the analysis of economic conditions.