Of the Four Factors Which Determine the Initial Sample Size

question 4

Multiple Choice

Of the four factors which determine the initial sample size (population size, tolerable deviation rate, acceptable risk of over-reliance, and expected population deviation rate) , which combination of two factors has the greatest effect on sample size?

• A) acceptable risk of overreliance minus tolerable deviation rate
• B) expected population deviation rate plus acceptable risk of overreliance
• C) population size times expected population deviation rate
• D) tolerable deviation rate minus expected population deviation rate

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Definitions:

Specialization in Production

The process by which individuals, businesses, or countries focus on producing a limited scope of goods or services to gain greater efficiency and quality.

Coincidence of Wants

A situation in a barter economy where two parties each hold an item the other wants, facilitating a direct trade without the need for a medium of exchange.

Barter Economy

An economic system where goods and services are exchanged directly for other goods and services without using money as an intermediate.

Medium of Exchange

An instrument used to facilitate the sale, purchase, or trade of goods between parties, for example, money or digital currency.