Selection Bias Generally Is Minimized by Randomization of Subjects to Test

question 50

True/False

Selection bias generally is minimized by randomization of subjects to test groups.

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Definitions:

Barriers to Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business.

Short Run

A time period in economics during which some factors of production are fixed, influencing decisions on production and costs.

Plant Size

Refers to the physical capacity or scale of a manufacturing facility, which can affect production efficiency, costs, and the firm's ability to satisfy market demand.

Long Run

A period in which all factors of production and costs are variable, allowing for all adjustments to be made within an economy or firm.