In a _____ Sample,each Person in the Population Theoretically Has

question 52

Multiple Choice

In a _____ sample,each person in the population theoretically has an equal chance of being chosen.

• A) random
• B) biased
• C) convenience
• D) judgment
• E) quota

---

Definitions:

Fixed-Period Inventory System

An inventory control system where stock levels are checked at fixed intervals and orders are placed as needed to replenish supplies.

Fixed Quantity Inventory System

Inventory management strategy where a predefined quantity of product is ordered when stock falls to a certain level.

Stockout

A situation where the demand for a product exceeds its supply in inventory, resulting in an inability to meet customer demand.

Annual Holding Cost

the total expense incurred from storing and maintaining inventory over a year, including warehousing, depreciation, and insurance costs.