Which of the Following Errors Is Likely to Cause an Imbalance

question 28

Multiple Choice

Which of the following errors is likely to cause an imbalance in the representativeness of the sample?

• A) Nonresponse error
• B) Sampling frame error
• C) Random sampling error
• D) Systematic error

Recognize that different methods can yield different probabilities for the same event.

Identify scenarios appropriate for the method of equal alternatives.

Select the appropriate method for determining the probability of specific real-world scenarios.

Understand the requirement for selecting a reference group when establishing probabilities.

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Definitions:

Price Discrimination

A strategy in pricing where the same provider sells identical or almost identical products or services for different prices across various markets or segments.

Same Good

A same good refers to an identical product or item that is available across different sellers or markets, maintaining the same characteristics and quality.

Airlines

Firms that facilitate the air conveyance of people and goods.

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical, allowing for competition on factors other than price.