(I for Populations Scattered in a Wide Area, the Preferred

question 63

Multiple Choice

(i. For populations scattered in a wide area, the preferred technique for sampling is simple random sampling. (ii) If the population can be divided into homogeneous subgroups, stratified random sampling is the best sampling method to use.
(iii) If every k-th item in the population sequence is selected, you are using systematic random sampling.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• 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:

Lot Size

It denotes the quantity of units produced or ordered in a single batch, influenced by considerations like cost and demand.

JIT Policies

Just-In-Time Policies; strategies aimed at minimizing inventory and reducing waste by receiving goods only as they are needed in the production process.

Setup Time

The duration required to prepare equipment or a process for production, affecting the efficiency of manufacturing operations and job scheduling.

Lot Size

The number of units of a product bought or sold in a single transaction.