When the Population Is Divided into Mutually Exclusive Sets,and Then

question 6

Multiple Choice

When the population is divided into mutually exclusive sets,and then a simple random sample is drawn from each set,this is called:

• A)simple random sampling.
• B)stratified random sampling.
• C)cluster sampling.
• D)selection bias.

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Definitions:

Employee Retirement Income Security Act

A federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.

Vesting Rights

Are guaranteed rights to receive pension benefits.

Pension Plans

Retirement savings plans offered by employers, providing employees with a specific monthly income upon retirement.

Pay-for-Knowledge Approach

A compensation strategy where employees are paid based on their skill sets and the knowledge they bring to the job.