Which of the Following Is the Best Example of a Good

question 148

Multiple Choice

Which of the following is the best example of a good whose consumption is NOT excludable?

• A) clothing
• B) ice cream
• C) a taco
• D) national defense

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Definitions:

Stratified Sampling

A method of sampling that divides the population into distinct layers or strata and then randomly selects samples from each stratum.

Confidence Intervals

A range of values, derived from the sample data, that is believed to contain the true population parameter with a certain level of confidence.

Point Estimate

A single value estimate used to approximate a population parameter, derived from sample data.

Margin of Error

A statistic expressing the amount of random sampling error in a survey's results, which represents the extent to which the survey results might differ from the true population values.