Suppose You Want to Draw a Probability Sample of All

question 2

Essay

Suppose you want to draw a probability sample of all U.S. intercollegiate athletes who are competing during the current academic year. Describe how you might use each of the basic probability sampling designs: simple random, stratified random, and multistage cluster. Then indicate which sampling design you think is best to use and why.

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Definitions:

Variable Costs

Costs that change in proportion to the level of activity or volume of production in a company, such as raw materials and labor costs.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and loan payments.

Fixed Operating Expense

Financial obligations that stay the same irrespective of production or sales figures, encompassing rental charges, payroll, and insurance premiums.

High-Low Method

An accounting technique used to estimate the fixed and variable components of a cost based on the highest and lowest activity levels.