We Must Use a Random Digits Table to Choose a Sample

question 85

Essay

We must use a random digits table to choose a sample of eight names from the roster of a club with 100 members. Why can we use two-digit numbers from the table to select our sample?

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Definitions:

Derivatives

Financial instruments whose value is based on the value of an underlying asset, index, or security.

Forward Contracts

A financial agreement to buy or sell an asset at a specific future date for a price agreed upon today.

Buyer

An individual or entity that acquires goods or services in exchange for payment.

Seller

An entity or individual that offers goods or services in exchange for payment, playing a crucial role in any market transaction.