A Simple Random Sample Is Defined as a Sample

question 82

Multiple Choice

A simple random sample is defined as a sample

• A) with only one variable.
• B) that takes into account other demographic variables.
• C) that weights one variable more than another.
• D) that provides the same chance of being included to every member of the population.

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Definitions:

Total Revenue

The total income generated from the sale of goods or services, calculated by multiplying the price per unit by the number of units sold.

Market Price

The present cost at which one can buy or sell an item or service in a competitive market environment.

Perfectly Elastic

A situation where the demand or supply responds infinitely to changes in price, resulting in a horizontal demand or supply curve.

Perfectly Inelastic

A market condition where the quantity demanded or supplied does not change in response to price changes; the demand or supply curve is perfectly vertical.