The Major Advantage of a Simple Random Sample Is That

question 50

Multiple Choice

The major advantage of a simple random sample is that it ensures that ____.

• A) there will be enough participants in each subset to be able to make statistical decisions
• B) no single group is over-represented in the sample
• C) the sample will provide an accurate representation of the population
• D) the selection procedure is unbiased although its outcome may be biased

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Definitions:

FICA-OASDI

Refers to part of the U.S. payroll tax that funds the Social Security program, standing for Federal Insurance Contributions Act - Old Age, Survivors, and Disability Insurance.

FICA-Medicare

The portion of the Federal Insurance Contributions Act (FICA) tax that is dedicated to Medicare, funding hospital insurance for individuals under the Medicare program.

FUTA Payable

The amount owed by an employer for the Federal Unemployment Tax Act to fund state workforce agencies and unemployment compensation for workers who have lost their jobs.

Journal Entry

A record in the accounting journal that represents a financial transaction and includes details such as date, amounts, accounts impacted.