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Zarrin [17]
2 years ago
14

Which of the following statements is true of sampling error? Group of answer choices It occurs when a sample somehow does not re

present the target population. It occurs when the selected sample is an imperfect representation of the overall population. It occurs when there is a measured difference between the information desired and the information provided. It occurs when the sample drawn from a population differs from the target population
Business
1 answer:
ludmilkaskok [199]2 years ago
8 0

Sampling error occurs when a sample somehow does not represent the target population.

Answer:

Statement  (A) is true

<u>Explanation:</u>

Sample means a small group selected from a large group.The large group from which a sample is selected is called the population.Basically a sample is selected to draw conclusions regarding population because it is not possible to study the entire sample.But if sample sample does not represent the target population then our conclusions will not be accurate.This will give rise to sampling errors.

If occurs when sample is biased.So we need to be very careful while selecting a sample.It must represent the entire population not just a part of population.

Sampling error can be reduced by increasing the size of population,dividing population in groups,select appropriate population.

Sampling error occur when population is not correct as per our requirement,or when sample is selected randomly.It may also occur when sample selected does not respond ,at that time it becomes difficult to draw conclusions regarding population.

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Assume that a six-firm cartel supplies 500 million units of Whatailsya energy drink at a price of $5.00 per unit. Each firm supp
bazaltina [42]

Answer:

<u>The net gain for the firm cheating the cartel is US$ 183 million (rounding the answer to the nearest million).</u>

Explanation:

1. Let's review all the information provided for solving this case:

Number of firms that supply  Whatailsya energy drink = 6

Amount of production of the cartel of six firms = 500 million units

Price of the energy drink = US$ 5

Amount of production of the firm that decided to break the cartel = 50 million extra units

Price after the extra production is sold = US$ 4.50

2. Let's find the individual production of each firm before and after the 50 million extra units and the net gains for the cheating firm.

Individual production of each firm of the cartel = Amount of production of the cartel/Number of firms

Individual production of each firm of the cartel = 500 million units/6

Individual production of each firm of the cartel = 83.33 million units

Individual sales of each firm before the 50 million extra units = Individual production * Price of the energy drink

Individual sales of each firm before the 50 million extra units = 83.333 million * 5

Individual sales revenue of each firm before the 50 million extra units = US$ 416.666 million

New production amount of the firm cheating the cartel = 83.333 + 50

New production amount of the firm cheating the cartel = 133.333 million units

Price of the energy drink after the extra production is sold = US$ 4.50

New sales revenue of the firm cheating the cartel = New production amount * Price of the energy drink after the extra production is sold

New sales revenue of the firm cheating the cartel = 133.333 million * 4.50

New sales revenue of the firm cheating the cartel = US$ 600 million

Net gain of the firm cheating the cartel = New sales revenue of the firm cheating the cartel - Individual sales of each firm before the 50 million extra units

Net gain of the firm cheating the cartel = 600 million - 416.666 million

Net gain of the firm cheating the cartel = 183.333 million

<u>Net gain of the firm cheating the cartel = US$ 183 million (rounding the answer to the nearest million)</u>

6 0
2 years ago
marketing student is estimating the average amount of money that students at a large university spent on sporting events last ye
SCORPION-xisa [38]

Answer:

Option A

Explanation:

We can be 90% confident that the mean amount of money spent at sporting events last year by all the students at this university is between $ 217 and $ 677.

The interval offered by option A, is the same result obtained by the student on his research. By the definition the confidence interval permit us to conclude that the mean of the population would be on that interval.

7 0
2 years ago
Read 2 more answers
Which of the following people is considered to be in the labor force? Select all that apply: Gina is a stay-at-home mom and volu
Fudgin [204]

Answer:3

Explanation:

niot sure

4 0
2 years ago
Your friend Bob just retired after running a donut shop for 40 years. He has saved $3.5 million in his retirement accounts. Now
Readme [11.4K]

Answer:

$18,711.57

Explanation:

The amount that the Bob will be getting at the beginning of the each month for the next 30 years shall be determined through the present value of annuity formula which shall be determined as follows:

Present value of annuity=R+R[(1-(1+i)^-n)/i]

R=Amount that he will be getting per month for next 30 years=?

i=interest rate per month=5/12=0.4167%

n=number of payment involved=30*12=360 and since the first payment is made at the start of month, therefore the n=359

Present value of annuity=$3,500,000

$3,500,000=R+R[(1-(1+0.4167%)^-359)/0.4167%]

$3,500,000=R+186.05R

$3,500,000=187.05R

R=$18,711.57=payment per month

8 0
2 years ago
Insta Car Motors manufactures three lines of cars: 1. high-end security cars for government agencies, 2. commercial cars for con
Phantasy [73]

Answer:

multichannel distribution system

Explanation:

A multichannel distribution strategy refers to a distribution strategy that uses more than one channel to reach its customers:

  1. high-end security cars are sold though a B2B channel directly to government agencies.
  2. consumer cars are sold through retailers to final consumers.
  3. professional racing cars are sold through an alliance with Stadium Tires

Other distribution channels not used by Insta Car are directly from producer to final consumer through their own retailers or online sales, or using trading companies in foreign countries that act like wholesalers.

3 0
1 year ago
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