Which of the Following Sampling Procedures Only Requires Minimal Advance

question 62

Multiple Choice

Which of the following sampling procedures only requires minimal advance knowledge of the population?

• A) Systematic sampling
• B) Simple random sampling
• C) Cluster sampling
• D) Stratified sampling

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Definitions:

Oligopolistic Markets

Markets characterized by a few large producers that have the ability to influence prices, but must consider the actions of their rivals.

Minimum Efficient Scale

The lowest level of output at which a firm can minimize long-run average total cost.

U.S. Agriculture

The sector of the United States economy that deals with the production of plants and animals for food, fiber, and other products.

Farm Share

The portion of the final retail price of agricultural products that goes back to the farmers.