Since the Population Is Always Larger Than the Sample, the Population

question 34

Multiple Choice

Since the population is always larger than the sample, the population mean:

• A) is always larger than the sample mean
• B) is always smaller than the sample mean
• C) is always larger than or equal to the sample mean
• D) can be smaller than, or larger than, or equal to the sample mean
• E) is always smaller than or equal to the sample mean

---

Definitions:

Quantity Effect

The change in the quantity demanded or supplied as a result of changes in price, holding all else constant.

Price Effect

The impact on consumer demand and supply of goods or services caused by a change in the price of those goods or services.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied can change infinitely with any small change in price.

Price

The total monetary value expected, obliged, or handed over in exchange for something.