Nonprobability Samples

question 96

Multiple Choice

Nonprobability samples:

• A) require more expensive marketing research than probability sampling
• B) include any sample in which little is done to obtain a representative cross section of the population
• C) by definition must be representative of the population
• D) often start out with random numbers to ensure selection of subjects is truly random
• E) offer an easy method for determining sampling error

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Definitions:

Double Coincidence of Wants

A situation in barter economies where two parties each hold an item the other wants, allowing them to exchange goods directly.

Specialization of Labor

A process in which individuals or groups of workers concentrate on specific tasks, aimed at increasing efficiency and output.

Transactions Costs

Expenses incurred when buying or selling goods and services, including costs beyond the price of the product, such as time, effort, and fees.

Savings and Loan Debacle

A financial crisis in the 1980s and 1990s involving the collapse of savings and loan associations due to risky business practices and regulatory failures.