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You Are Reading a Study Which Randomly Selected and Enrolled

question 14

Multiple Choice

You are reading a study which randomly selected and enrolled every 60th prisoner from a population of 300,000 prisoners. You know this is an example of what type of sampling methodology?


Definitions:

Perfectly Inelastic

A situation in demand where the quantity demanded does not change regardless of the price level.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, clearing the market.

Coefficient

A numerical or constant factor in a mathematical expression that multiplies the variable it is associated with.

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of demand to price changes.

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