Sample Size Is Determined by the Application of a Statistically

question 2

Multiple Choice

Sample size is determined by the application of a statistically based formula which includes all of the following except:

• A)tolerable error.
• B)required confidence level.
• C)sampling risk.
• D)all of the above are included in the formula.

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Definitions:

Unit Variable Cost

The variable cost incurred to produce one unit of a product, including materials, labor, and variable overhead.

Minimum Required Rate Of Return

This is the lowest return that investors expect for an investment, affecting the value and desirability of an investment opportunity.

Total Fixed Costs

The sum of all costs that do not change with the level of output within a certain range of activity for a specified period.