When We Select a Sample So That All Elements in the Population

question 19

Multiple Choice

When we select a sample so that all elements in the population have an equal chance of being selected,we are using

• A)inferential statistics.
• B)random sampling.
• C)probability.
• D)dependent events.

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Definitions:

Average Person

A hypothetical individual who represents the common or typical characteristics of a group, often used in statistical and economic models.

Trash

Waste material or unwanted items that are discarded, often sent to landfills or recycling centers for disposal.

Commodity Price Index

An index that measures the change over time in the price of a basket of commodities.

Productive Resources

Inputs used in the production of goods and services, such as land, labor, capital, and entrepreneurship.