(I as the Sample Size (N) Increases, the Spread in the Distribution

question 33

Multiple Choice

(i. As the sample size (n) increases, the spread in the distribution of the sample means stays the same. (ii) If the sampling size equals the population size, the sampling error is 1.
(iii) If a population is normally distributed, the sampling distribution of the mean is normally distributed.

• A) (i), (ii), and (iii) are all correct statements.
• B) (iii) is a correct statement, but not (i) or (ii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Bundles

Combinations of goods and services offered together as a single package, often at a discounted price.

Weak Axiom

A principle in consumer theory that if a consumer prefers bundle A over bundle B when both are affordable, they will not choose B over A when income or prices change, holding everything else constant.

Strong Axiom

Often refers to the strong axiom of revealed preference in economics, a principle used to infer a consumer's complete preference ordering over goods.

Revealed Preference

A theory suggesting that the preferences of consumers can be understood from their purchasing habits and choices.