From a Population of Size 500, a Random Sample of 50

question 103

Multiple Choice

From a population of size 500, a random sample of 50 items is selected. The mode of the sample

• A) must be 500.
• B) must be equal to the mode of population, if the sample is truly random.
• C) must be equal to the mean of the population, if the sample is truly random.
• D) can be larger, smaller or equal to the mode of the population.

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Definitions:

Loanable Funds

A concept in economics that describes the market where borrowers obtain funds from savers, influenced by interest rates.

Interest Rates

The cost of borrowing money, expressed as a percentage of the amount borrowed, paid by the borrower to the lender for the use of their funds.

National Debt

The complete value of funds that a nation's administration has accrued as debt through various methods.

Built-In Stabilizers

Automatic fiscal mechanisms, such as progressive taxation and welfare payments, that help to moderate the fluctuations of an economy's output without additional legislative action.