Is it possible for a set of observations to be either a sample or a population? Give an illustrative example
What will be an ideal response?
Yes, it is possible for a set of numbers to be either a sample or a population. Suppose we ask students in a business statistics class how many hours they studied for their mid-term exam. If we are just interested in this particular class's level of effort, then the data collected may be viewed as population data. However, if we intend on using this data to say something about the study habits of all business statistics students, then we would probably view this data as sample data.
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The length of time expected to complete an activity assuming that its development proceeds normally is called the:
A) Optimistic duration. B) Pessimistic duration. C) Most likely duration. D) Normal duration.
A ________ is a business that is owned by only one person.
Fill in the blank(s) with the appropriate word(s).
What is the impact of the Internet on pricing strategies?
What will be an ideal response?
With which of the following business strategies do large companies that try to take advantage of economies of scale in production often succeed?
A. low-cost B. functional C. differentiation D. customer intimacy E. niche