Which of the Following Factors Affect the Size of a Sample

question 77

Multiple Choice

Which of the following factors affect the size of a sample needed when working with a probabilistic sample?

• A)The amount of diversity or variation of the parameter in question within the population
• B)How precise the estimate must be
• C)The degree of confidence you'd like to have
• D)All of these are correct.
• E)None of these are correct.

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Definitions:

Average Total Cost

The total cost divided by the quantity of output produced; it is the sum of average fixed costs and average variable costs.

Marginal Cost

The extra cost incurred when one more unit of a product or service is produced.

Profit

The financial gain made in a transaction, calculated as the difference between the revenue earned and the costs incurred.

Drug Patent

Legal protection granted to the inventor of a new pharmaceutical, allowing exclusive rights to manufacture and sell the drug for a certain period.