Which Method Will Result in Having a Truly Random Sample

question 128

Multiple Choice

Which method will result in having a truly random sample of the population of the United States?

• A) Randomly select names from every phone book published in the United States.
• B) Advertise in every newspaper in the country that you will pay $10/hour to anyone willing to be in a research project.
• C) Select names from the Internal Revenue Service of every person who filed income tax returns last year such that every income level is equally represented.
• D) Obtain names from the U.S. census bureau and randomly select participants.

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Definitions:

Predatory Pricing

A pricing strategy where a company sets prices below costs to eliminate competition and gain market control.

Antitrust Laws

Regulations established by governments to prevent large companies from monopolising markets, encouraging competition and protecting consumers.

Artificially Low Price

An Artificially Low Price refers to a scenario where the pricing of a product or service is set below its cost or market value through subsidies, price controls, or other means.

Tacit Collusion

An unspoken, unofficial agreement between competitors to avoid certain competitive behaviors, such as price wars, without explicit communication.