Which of the Following Statements Is FALSE

question 30

Multiple Choice

Which of the following statements is FALSE?

• A)If all the members of a population were identical there would be no need for sampling.
• B)In cases of perfect homogeneity a single case could represent an entire population.
• C)In cases of perfect heterogeneity a single case could represent an entire population.
• D)Because elements within the population differ, we need to do careful sampling.
• E)A truly representative sample will accurately reflect an entire population.

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Definitions:

Contribution Margin

The amount remaining from sales revenue after all variable expenses have been deducted, indicating the contribution towards covering fixed costs and generating profit.

Scarce Resource

An economic term referring to a resource that has limited availability in relation to its demand, leading to allocation decisions.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Alternative Choices

Different options or courses of action that can be taken in a decision-making process.