Simple Random Sampling, Systematic Sampling, Stratified Sampling and Cluster Sampling

question 26

Multiple Choice

Simple random sampling, systematic sampling, stratified sampling and cluster sampling are all examples of :

• A)Inadequate sampling methods.
• B)Non-probability sampling methods.
• C)Probability sampling methods.
• D)Superior sampling methods.

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Definitions:

Life Policy

An insurance contract that pays a designated beneficiary a sum of money upon the death of the insured person.

Maximum Loan

The highest amount of money that a lender is willing to lend to a borrower, determined by factors such as creditworthiness and collateral.

Life Policy

A contract with an insurance company that pays out a sum of money either on the death of the insured person or after a set period.

Insured

For life insurance, the person whose life is being insured; for other types of insurance, the person who receives the benefit of the insurance.