When a Sample Is Selected at Random from a Population

question 83

Multiple Choice

When a sample is selected at random from a population, the sample mean will likely be:

• A) larger than the population mean
• B) smaller than the population mean
• C) different from the population mean
• D) equal to the population mean
• E) larger than the population mean and different from the population mean

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Definitions:

Decision makers

Individuals or entities responsible for making choices or judgments in a given situation, particularly in organizational or managerial contexts.

Uncertain environment

An uncertain environment is characterized by unpredictable and volatile conditions that make planning and decision making challenging.

Risk

The exposure to the chance of loss or adverse outcomes, which can stem from financial, operational, or strategic uncertainties.

Decision-Making

The act of choosing by pinpointing a decision, acquiring information, and considering various alternatives.