For Which Method of Data Collection Is It Most Important

question 25

Multiple Choice

For which method of data collection is it most important to select a representative sample so that the information may be generalized to a larger population?

• A)an experiment
• B)a survey
• C)participant observation
• D)a case study

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Definitions:

Margin of Safety

The difference between actual sales and the break-even point, indicating how much sales can drop before the company incurs a loss.

Break-Even Point

The level of sales at which total revenues equal total costs, and the business makes no profit but also no loss.

Sensitivity Analysis

A financial modeling technique that determines how different values of an independent variable affect a particular dependent variable under a given set of assumptions.

Break-Even Point

The point at which total costs and total revenues are equal, meaning the business is not making a profit or loss, a crucial figure for financial planning and management.