If the Sample Is Not Truly Random

question 11

Multiple Choice

If the sample is not truly random:

• A) The significance test can overstate the accuracy of the results.
• B) The population must become the sample.
• C) The sample must be extremely high.
• D) The null hypothesis cannot be rejected.

---

Definitions:

Economic Profit

The total revenue of a business minus its total costs, including both explicit and implicit costs.

Average Variable Cost

The total variable cost divided by the total output, indicating the variable cost for producing one more unit of a good or service.

Economic Profit

A measure of profitability that accounts for the full opportunity costs of all resources employed, including both tangible and intangible costs.