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Q. Suppose a study is being done and the population is the American public. How would you go about choosing a random sample population to phone for a survey?
Solution: One way to choose a random sample population is by using a random number generator. First, list all telephone exchanges in America. Then use the random number generator to randomly dial a 7-digit number within these exchanges. What this method does essentially is create a list of all possible household phone numbers in America and then select a subset of numbers from that list for the sample population. (This is the method used for Gallup polls).
Notice that there are the limitations of this method. There are Americans who are not living in households with phone numbers (homeless or without phone). There are Americans who are not living in America or who might be traveling during the time of the sampling.
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Batch costing and method of costing whereby identical units produced are treated as a single unit & the cost incurred is shown to the whole of that batch instead of each individual
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1. Penny Pincher, Inc. had a contribution margin of $33,000 on sales of $50,000 and had fixed costs of $18,000. Calculate its break-even point in sales dollars. 2. Krueger Company
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Let a and b be constants and le yi=axi+b for i=1,2,...n. W HAT IS THE RELATION SHIP BETWEEN mean and variancees of X and Y ?
A. Complete the correlation matrix table. B. Which variable (s) has the highest correlation coeffieient which is not a perfect correlation? C. Which variable (s) has the lowest cor
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