A Probability Sample That Classifies the Population into Groups Is

question 10

Multiple Choice

A probability sample that classifies the population into groups is called a

• A) simple random sample.
• B) systematic sample.
• C) stratified sample.
• D) none of these

---

Definitions:

Labor

The effort by humans to produce goods or provide services in the economy.

Profit-Maximizing Quantity

The level of output at which a company can achieve the highest possible profit, where marginal revenue equals marginal cost.

Market Wage Rate

The prevailing rate of pay for specific jobs in the labor market, typically influenced by supply and demand.

Wage Rate

The amount of remuneration offered to labor for their service per unit time.