Identify Which of These Types of Sampling Is Used: Simple

question 167

Multiple Choice

Identify which of these types of sampling is used: simple random, stratified, systematic, or convenience.
-The name of each contestant is written on a separate card, the cards are placed in a bag, and three names are picked from the bag.

• A)Stratified
• B)Systematic
• C)Simple random
• D)Convenience

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Definitions:

Market Segment

A group of potential customers who share similar needs or characteristics that a company targets with its products or services.

Earn Less Profit

A scenario where a business or individual generates a lower amount of financial gain from operations or investments.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different customers.

Earn More Profit

Refers to the increase in net revenue a company achieves through strategies such as cost reduction, price adjustment, or market expansion.