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Suppose You Have a Herd of 100 Cows and You

question 3

Essay

Suppose you have a herd of 100 cows and you need to select a simple random sample of 5 cows to test for a certain disease.You call the cows in for the evening, and pick the 5 that arrive first.Is this a simple random sample? Why or why not?


Definitions:

Delivery Cycle Time

Delivery cycle time is the total time taken from when a customer order is placed until the product is delivered to the customer, encompassing order processing, manufacturing, and shipping phases.

Last Year's Margin

The difference between sales revenue and cost of goods sold from the previous financial year, typically expressed as a percentage of sales.

Division's Turnover

The total revenue generated by a specific division of a company within a given period.

Last Year's Turnover

The total sales or revenues generated by a company during the previous year.

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