Examlex
A factory has 20 assembly lines producing a popular toy. To inspect a representative sample of 100
Toys, quality control staff randomly selected 5 toys from each line's output. Was this a simple
Random sample?
Total Budget
The overall amount of money allocated for a specific purpose or period.
Large Part
A phrase indicating a significant portion or majority of a whole.
Elastic Demand
A situation where the quantity demanded of a product changes significantly in response to a change in price.
Substitutes
Products or services that can be used in place of each other; an increase in the price of one leads to an increase in demand for the other.
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