What Allows You to Use Sampling to Make Your Predictions

question 22

Multiple Choice

What allows you to use sampling to make your predictions instead of examining each and every member of a population?

• A) Standard deviation
• B) Central limit theorem
• C) Statistical significance
• D) Standard error

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Definitions:

Equality

The state or condition of being equal, especially concerning status, rights, and opportunities.

Ticket-Scalping

The act of buying tickets for an event and reselling them at a higher price.

Costs to Society

The total burden that societal behaviors, decisions, or policies place on the welfare of the community, including both direct costs and indirect consequences.

Total Surplus

The sum of consumer surplus and producer surplus; a measure of the overall benefit to society from the production and consumption of goods or services.