Using Probability Sampling, Sam Collected Data on the Number of Dogs

question 69

Multiple Choice

Using probability sampling, Sam collected data on the number of dogs owned in each household in the Houston____________________________ area. He analyzed his data and determined that 1.3 dogs are owned in each household. He might conclude from this information that there is a probability that at least one dog is owned by every household in Texas. Sam used____________________________to draw this conclusion.

• A) statistical inference
• B) intuition
• C) crystal ball inference
• D) intention processing
• E) perceptual mapping

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Definitions:

Permanent Income Hypothesis

A theory suggesting that an individual's consumption at a point in time is determined by their expected lifetime income, not just their current income.

Consumption

Consumption involves the use of goods and services by households, and it's a primary component of economic activity.

Lottery

A lottery is a form of gambling that involves the drawing of numbers for a prize, often administered by state or federal governments.

Conspicuous Consumption

The act of spending money on and acquiring luxury goods and services to publicly display wealth and social status.