The Distinguishing Features of a Simple Random Sample Are

question 41

Multiple Choice

The distinguishing features of a simple random sample are

• A)each population element has a known chance of being selected.
• B)each population element has an equal chance of being selected.
• C)every combination of n population elements is a sample possibility.
• D)Both a and b.
• E)a,b,and c.

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Definitions:

Diminishing Marginal Returns

A principle stating that as one adds more of a variable input to a fixed input, after a certain point, the additional output generated begins to decrease.

Personal Satisfaction

Personal satisfaction is the measure of contentment or happiness that an individual derives from an activity, situation, or overall life experience.

Work Efficiently

The performance of tasks in a manner that maximizes productivity while minimizing waste of time and resources.

Average Total Cost Curve

A graphical representation showing how the total cost of producing different quantities of a good divides by the quantity of goods produced, indicating the average cost per unit.