Which of the Following Would Be an Example of Random

question 65

Multiple Choice

Which of the following would be an example of random sampling in a survey study designed to learn more about the student body at a particular college?

• A) asking students to fill out a survey in a campus magazine and then mailing it to the investigators
• B) tossing a coin to determine who will be surveyed from a list of all students enrolled
• C) surveying all customers who visit a particular coffee shop on campus
• D) surveying fraternity and sorority members on campus

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Definitions:

Total Fixed Costs

The sum of all costs that do not change with the level of output or activity within a certain period.

Cost-Volume-Profit Analysis

The examination of the relationships among selling prices, sales and production volume, costs, expenses, and profits.

Contribution Margin

The amount of revenue remaining after deducting variable costs, which contributes to covering fixed costs and generating profit.

Gross Profit

The financial metric indicating the difference between revenue and the cost of goods sold, showcasing how efficiently a company is producing or sourcing its products.