In Attributes Sampling, a 10% Change in Which of the Following

question 24

Multiple Choice

In attributes sampling, a 10% change in which of the following factors normally will have the least effect on the size of a statistical sample?

• A)Population size.
• B)Tolerable deviation rate.
• C)Expected population deviation rate.
• D)Desired Confidence Interval.

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Definitions:

Diminishing Marginal Returns

Diminishing Marginal Returns is an economic principle stating that as additional units of a factor of production are added to a fixed amount of other factors, the incremental increase in output will eventually decrease.

Marginal Product

The additional output that results from using one more unit of a specific input, keeping other inputs constant.

Third Worker

In the context of labor and production, refers to the addition of a third employee in a process, which can affect productivity differently depending on the scenario.

Marginal Product

Additional output gained by employing one more unit of production.