Probability Sampling Is

question 140

Multiple Choice

Probability sampling is

• A) a type of sampling that requires the researcher to poll only the people in their closest inner circle.
• B) a general term for a sample selected based on political ideological leanings.
• C) a type of sampling in which individuals to be interviewed are selected based on their proportion or quota in the general population being polled.
• D) a general term for a sample selected in accordance with probability theory, which ensures that every person in the population has an equal chance of being selected for the sample.

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Definitions:

Economies Of Scale

The cost advantage achieved by businesses when production becomes efficient, leading to a lower cost per unit as output increases.

Virtual Companies

Companies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations or network companies.

Few Suppliers

Refers to a market situation where only a limited number of vendors provide a certain product or service, potentially leading to less competition and higher prices.

JIT Systems

Inventory management systems that seek to minimize inventory levels by scheduling material arrivals only when they are needed in the manufacturing process.