Compare and contrast nonsampling error and sampling error
What will be an ideal response?
Nonsampling error occurs when the sample does not represent the target population due to poor sample design. For example, a convenience sample is used rather than a random sample. Sampling (statistical) error is inherent in any sampling process occurring because samples are only a subset of the total population. Choosing a sampling design that stresses random selection can reduce nonsampling error while sampling error can be minimized by taking a larger sample size.
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An employer is contractually liable for acts of its employee even though the employee acted without authority when the:
A. employee causes a loss to a third party. B. employee had authority sometime in the past. C. employer ratifies the unauthorized acts. D. employee has no financial resources and could not compensate the third party for any loss.
The most commonly quoted currency exchange is that between the U.S. dollar and the European euro. For example, a quotation of EUR/USD 1.2174. The euro is the base currency and the dollar the price currency
Indicate whether the statement is true or false.