Provide an Appropriate Response

question 11

Multiple Choice

Provide an appropriate response.
-A polling company obtains an alphabetical list of names of voters in a precinct. They select every 20th person from the list until a sample of 100 is obtained. They then call these 100 people. Does this sampling plan result in
A random sample? Simple random sample? Explain.

• A) No; yes. The sample is not random because not all voters have the same chance of being selected. The second person on the list has no chance of being selected. It is a simple random sample because all
• Samples of 100 voters have the same chance of being selected.
• B) Yes; no. The sample is random because all voters have the same chance of being selected. It is not a simple random sample because some samples are not possible, such as a sample containing the second person on
• The list.
• C) Yes; yes. The sample is random because all voters have the same chance of being selected. It is a simple random sample because all samples of 100 voters have the same chance of being selected.
• D) No; no. The sample is not random because not all voters have the same chance of being selected. The second person on the list has no chance of being selected. It is not a simple random sample because some
• Samples are not possible, such as a sample containing the second person on the list.

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Definitions:

Member-Owners

Member-Owners are individuals or entities that own a share of a cooperative or membership-based organization, granting them certain rights and responsibilities within that organization.

Profit-Maximizing Output

The level of production at which a firm achieves the highest possible profit.

Marginal Revenue

The additional income generated from selling one more unit of a product or service.

Total Revenue

The total amount of money received by a firm from selling a certain quantity of goods or services, calculated as the price per unit times the number of units sold.