Which of the Following Statements About Sample Size Is True

question 37

Multiple Choice

Which of the following statements about sample size is true?

• A)A rule of thumb is to include at least two members from every subgroup to be analyzed.
• B)If the sample size is very small, a judgmental sample may be more reliable and representative than a probability sample.
• C)The determination of sample size should not involve cost.
• D)Low sampling costs do not justify a larger sample.
• E)None of the above.

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Definitions:

Direct Labor

The labor costs directly associated with the manufacture of specific goods or services, which can be easily traced to a product.

Factory Overhead

Factory Overhead includes all indirect costs associated with the manufacturing process, such as utilities, maintenance, and manager salaries, not directly tied to production output.

Process Manufacturing

A production method used in industries such as chemical, food, and pharmaceuticals, where goods are produced in continuous, batch processes rather than discrete units.

Unique Items

Products or goods that are distinct in characteristics or are produced in small quantities, making them rare or uncommon.