I If Probability Sampling Is Done, Each Item in the Population

question 66

Multiple Choice

i. If probability sampling is done, each item in the population has a chance of being chosen. ii. If the size of a sample equals the size of the population, we would not expect any error in estimating the population parameter.

• A) (i) and (ii) are both correct statements.
• B) (i) is correct but not (ii).
• C) (ii) is correct but not (i).
• D) (ii) and (ii) are both false statements.

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Definitions:

Relevant Range

The level of activity within which assumptions about variable and fixed cost behaviors are valid.

Total Expense Per Unit

is the computation of all costs involved in producing one unit of a product, including both variable and fixed expenses.

Level Of Activity

This refers to the volume of production or the quantity of services provided by a business over a period of time.

Expected Costs

These are forecasted or estimated costs for a product, project, or operation based on historical data and future projections.