The Logic Behind Proportionate Sampling Is Simple

question 88

True/False

The logic behind proportionate sampling is simple.Strata with larger relative sizes are more influential in determining the population mean,and these strata should also exert a greater influence in deriving the sample estimates.

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Definitions:

Consumer Substitution

The tendency of consumers to switch from one good to another in response to changes in relative prices, keeping their level of satisfaction or utility constant.

New Good

A product that has been recently developed or introduced to the market, offering new benefits or replacing existing goods.

Economic Well-Being

A measure of how well an individual, community, or country is performing economically, often considering factors like income, employment, and access to goods and services.

Variety

The range of different products, services, or choices available in a market, often contributing to consumer satisfaction and market efficiency.