The Polson Pole and Fence Company Recently Did a Quality

question 23

Multiple Choice

The Polson Pole and Fence Company recently did a quality check on the length of fence posts. To do this, each of the 400 posts in inventory was numbered. Numbers from 1 to 400 were placed in a bowl. Twenty numbers were selected from the bowl without looking. These 20 poles were the ones selected for the study. This type of sampling is called:

• A) cluster sampling.
• B) simple random sampling.
• C) nonstatistical.
• D) convenience sampling.

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Definitions:

Put Option

A financial agreement that grants the owner the option, without the mandatory commitment, to sell a certain quantity of a fundamental asset at a predetermined price during a defined period.

Option Quote

Information about the price of an option contract, including the bid and ask prices, last traded price, and contract specifics.

Market Price

The present cost at which a service or asset is available for purchase or sale.

Put Contract

A financial contract that gives the holder the right, but not the obligation, to sell a certain amount of an underlying asset at a specified price within a specific time period.