Which One of the Following Is NOT Statistical Sampling

question 57

Multiple Choice

Which one of the following is NOT statistical sampling?

• A) Simple random sample
• B) Stratified random sampling
• C) Cluster sampling
• D) Convenience sampling

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Definitions:

Consumer Surplus

The variance between what consumers are ready and capable of spending on a product or service and the actual sum they end up paying.

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive, reflecting the benefit to producers from higher prices.

Consumer Surplus

The gap between what consumers are prepared to spend on a product or service and the actual amount they end up paying.

Maximum Willingness

The highest amount an individual is prepared to pay for a good or service, reflecting their subjective valuation of its utility.