A Representative Sample Is One That Has Characteristics Similar to Those

question 6

True/False

A representative sample is one that has characteristics similar to those of the population as a whole.

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Definitions:

Income Distribution

The way in which total income is divided among the population or different groups within society.

Redistributing Income

The process of adjusting the distribution of income within a society, typically through taxation and government spending.

Consumer Satisfaction

A measure of how products and services supplied by a company meet or surpass customer expectation.

Diminishing Marginal Utility

The principle that as a person consumes more of a product, there is a decline in the additional satisfaction or utility that person derives from consuming one more unit of the product.