Which Sampling Plan Takes Advantage of the Fact That, All

question 33

Multiple Choice

Which sampling plan takes advantage of the fact that, all else equal, smaller samples are required to estimate a population parameter if there is little variation on the characteristic in the group being sampled?

• A) Area
• B) Stratified
• C) Snowball
• D) Simple random
• E) Quota

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Definitions:

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting wear and tear, obsolescence, or a decline in value.

Current-Rate Method

A method of foreign currency translation where all financial statements are converted at the current exchange rate at the time of reporting, affecting balance sheet and income statement items.

Hyper-inflationary Economy

A situation where an economy experiences extremely high and typically accelerating rates of inflation, leading to a rapid erosion of the real value of the local currency.

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity.