The Sample Size Determines

question 34

Multiple Choice

The sample size determines:

• A)how accurate the sample results will be
• B)how representative the sample is
• C)how much the sample will cost
• D)which firm will be used to actually draw the sample from the population
• E)if there is an adequate number to represent the entire population.

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Definitions:

Increasing Costs

A situation in which the costs of production increase as the total output increases, often due to factors like labor and material shortages.

Specialization

The practice of focusing on a specific area or activity to achieve greater efficiency and productivity.

Production Possibilities

A graphical representation of the alternative combinations of goods and services an economy can produce when all its resources are fully and efficiently utilized.

Specialize

To concentrate on and become expert in a particular subject or skill.