A _____ Sample Is a Sample in Which Every Element

question 46

Multiple Choice

A _____ sample is a sample in which every element in the population has a known statistical likelihood of being selected.​

• A)quota
• B)​probability
• C)​judgment
• D)convenience

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Definitions:

Absolute Advantage

The capacity of a nation, individual, organization, or area to generate a product or offer a service at a cost per unit that is less than what any other party can produce that same good or service for.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits an individual, investor, or business misses out on when choosing one option over another.

Bushel

A measure of volume that is used primarily in agriculture, equal to about 35.24 liters in the USA.

Absolute Advantage

The ability of an entity to produce a good or offer a service at a lower cost per unit, using fewer resources, than competitors or another entity.