A Sample That Is Selected to Resemble the Entire Population

question 21

Multiple Choice

A sample that is selected to resemble the entire population in its percentage of males and females, blacks and whites, and other factors is said to be a

• A) random sample.
• B) representative sample.
• C) normal distribution.
• D) control group.

Understand the eligibility and insurability criteria for life insurance.

Grasp the importance of choosing beneficiaries and the impact on policy proceeds distribution.

Distinguish between permanent and term life insurance, and understand their applications.

Acknowledge the importance of the financial stability of insurance companies and how it affects policyholders.

---

Definitions:

Expectations

In economics, expectations refer to the beliefs or forecasts about future events, such as inflation rates, economic growth, or future income levels, which can influence current economic behaviors.

Suppliers

Suppliers are individuals or companies that provide goods or services to other entities, typically within a commercial chain.

Wages

The fixed regular payment, typically calculated on a daily or hourly basis, made by an employer to an employee, especially to a manual or unskilled worker.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.