The Accuracy of a Sample Is Often Expressed As

question 33

Multiple Choice

The accuracy of a sample is often expressed as:

• A)the number of centimeters it is from the true population frame
• B)the cost of making an inaccurate estimate
• C)the number of respondents needed to make the sample 100% accurate
• D)a plus-or-minus percentage, such as + or - 5%
• E)a mistake

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Definitions:

Full Costs

This refers to the comprehensive total amount that includes all relevant costs of production, including direct, indirect, fixed, and variable costs.

Cost of Goods Sold

The historical cost of products sold as reported in the income statement.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the profitability of a company's core activities.

Goods Available for Sale

The total quantity of goods that a company has in its stock ready to sell at the end of a financial period.