Which of the Following Sampling Methods Is a Probability Sample

question 120

Multiple Choice

Which of the following sampling methods is a probability sample?

• A)convenience sample
• B)quota sample
• C)stratified sample
• D)judgment sample

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Definitions:

Carrying Cost

The total cost associated with holding inventory, including storage, insurance, taxes, depreciation, and opportunity costs, among others.

Setup Cost

The expenses incurred in preparing equipment or processes for manufacturing an order or batch of products.

Annual Demand

The total quantity of a product or service that consumers are willing and able to purchase over a year.

Safety Stock

Additional quantity of an item held in inventory to reduce the risk of stockouts caused by variability in supply or demand.