An Increase in the Price of Ice Cream Causes the Demand

question 37

Multiple Choice

An increase in the price of ice cream causes the demand for sprinkles to decrease.In this case,ice cream and sprinkles are:

• A) substitute goods.
• B) independent goods.
• C) complementary goods.
• D) inferior goods.

---

Definitions:

Quota Sampling

A non-probability sampling technique where individuals or elements are selected based on specific traits or characteristics until a quota is met.

Nonrandom Component

The portion of variability in data that is attributable to specific, deterministic causes, as opposed to random variation.

Simple Random Sample

A subset of individuals chosen from a larger set, where each member has an equal chance of being selected.

Associated Population

The group of all elements or individuals that share one or more characteristics, from which a sample may be drawn for a statistical study.