To Produce Good Estimates of Population Parameters We Need to Have

question 56

Multiple Choice

To produce good estimates of population parameters we need to have a _______ sample.

• A) normal
• B) independent
• C) random
• D) systematic

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Definitions:

Imports Foreign Goods

The act of bringing goods and services from foreign countries into one's own country for sale.

Trade Deficit

A situation where a country's imports exceed its exports, indicating that it is buying more from other countries than it is selling to them.

Consume Less

A behavioral or economic principle where individuals or entities choose to purchase or use fewer goods and services, often to save money or reduce environmental impact.

Comparative Advantage

Comparative Advantage is an economic theory suggesting that countries should produce and export goods for which they have a lower opportunity cost compared to other countries.