If Every Individual in the Population Has an Equal Chance

question 15

Short Answer

If every individual in the population has an equal chance of being selected for a sample,the sample is said to be a(n)____________________ sample.​

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Definitions:

Budgeted Production

The quantity of units that a company plans to produce in a specific period, based on forecasted sales and desired inventory levels.

Finished Goods Inventory

The stock of completed products that have not yet been sold to customers.

Required Production

The amount of production a company needs to meet its sales goals and inventory policies, often calculated based on forecasted sales plus target ending inventory minus beginning inventory.

Manufacturing Corporation

A manufacturing corporation is a company engaged in the industrial production of goods and products.