Stratified Random Sampling Is a Method of Selecting a Sample

question 74

Multiple Choice

Stratified random sampling is a method of selecting a sample in which

• A)the sample is first divided into groups, and then random samples are taken from each group
• B)various strata are selected from the sample
• C)the population is first divided into groups, and then random samples are drawn from each group
• D)None of the alternative answers is correct.

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Definitions:

Economy's Growth

The increase in the market value of the goods and services produced by an economy over time, typically measured as the percentage increase in real gross domestic product (GDP).

Total Output

The complete quantity of goods or services produced by a firm or within an economy during a given period.

Purely Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production.