A Sampling Procedure Ensuring That Each Element in the Population

question 24

True/False

A sampling procedure ensuring that each element in the population will have an equal chance of being included in the sample is called simple random sampling.

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Definitions:

Identified

Recognized or established as being a particular entity or thing.

Contract

A legally binding agreement between two or more parties that outlines rights and duties towards one another.

Voidable

A legal term describing a transaction or agreement that may be annulled or voided at the discretion of one party.

Good Faith Purchaser

A purchaser who buys without notice of any circumstance that would put a person of ordinary prudence on inquiry as to whether the seller has valid title to the goods being sold.