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IRINA_888 [86]
4 years ago
9

Think about drawing a random sample only from cell phone exchanges. Discuss the advantages and disadvantages of such a sampling

method compared with surveying randomly generated telephone numbers from​ non-cell phone exchanges. Do you think these advantages and disadvantages have changed over​ time? How do you expect​ they'll change in the​ future?
Business
1 answer:
Vanyuwa [196]4 years ago
6 0

Answer:

Consider the case of drawing a random sample only from cell phone exchanges instead of surveying randomly generated telephone numbers from non-cell phone exchanges.

With the passing of time, more and more people are leaning towards owning a cell phone instead of a land line.

The proportion of people in the population who use cell phones is gradually increasing when compared to non-cell phone users

Major fraction of the population now consists of cell phone users

In future there will be sharp increase in this fraction  

So it will be advantageous to draw a random sample only from cell phone exchanges instead of surveying randomly generated telephone numbers from non-cell phone exchanges. It improves the chance of including more people (people who do not stay at homes during the time of survey will be contacted only though cell phones which is impossible in the case of non-cell phone users)

But there are some disadvantages. Not every person has an equal chance. People without cell phones are excluded. Cell phone users could not be contacted many times due to many reasons (absence of network coverage, power shortage, or if they were not allowed to carry their phones to work places or to some highly secured places)

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Answer:

Stockton Company

The retained earnings ending balance is:

= $12,114.

Explanation:

a) Data and Calculations:

Stockton Company

Adjusted Trial Balance December 31

Cash                                6,102

Accounts Receivable    2,938

Prepaid Expenses            703

Equipment                   15,970

Accumulated Depreciation      6,337

Accounts Payable                      1,719

Notes Payable                          4,543

Common Stock                        1,000

Retained Earnings                  10,872

Dividends                      916

Fees Earned                            6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51

Totals                      30,647 30,647

Income Statement for the year:

Fees Earned                          $6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51     4,018

Net Income                           $2,158

Statement of Retained Earnings for the year:

Net Income                           $2,158

Retained Earnings                10,872

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So when the price is elastic then a change in the price level will cause a greater change in quantity demanded and thus in revenue. Similarly, when demand is inelastic a change in the price level will cause a smaller change in quantity demanded and thus revenue.

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