In a ___________, data are obtained from or about every member of the population of interest, while in a ______________, information is obtained from or about a part of the population and used to make estimates about various characteristics of the total population.

A diversification corporate strategy implies that a firm will ________

A) expand by adding new product lines B) reduce the company's size to increase market share C) save money by producing its own raw materials D) increase profits by offering one popular product

Explain the difference between a joint product and a byproduct. Can a byproduct ever become a joint product? Also, can a joint product ever become a byproduct?

What will be an ideal response?