If a Sample Is Selected Using Random Sampling Methods, the Primary

question 44

True/False

If a sample is selected using random sampling methods, the primary reason that the sample mean might be different from the corresponding population mean is that the sample might be biased.

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Definitions:

Marginal Social Benefit

The extra advantage to the community when one additional unit of a product or service is made.

Negative Externalities

External costs.

Marginal Social Cost

Marginal social cost is the total cost society bears for the production of an additional unit of a good or service, considering both private costs and any external costs.

Species Extinction

The permanent disappearance of a species from Earth.