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Sampling is a process used in statistical analysis in which a predetermined number of observations are taken from a larger population. The methodology used to sample from a larger population depends on the type of analysis being performed, but it may include simple random sampling or systematic sampling. The main types of probability sampling methods are simple random sampling, stratified sampling, cluster sampling, multistage sampling, and systematic random sampling. The key benefit of probability sampling methods is that they guarantee that the sample chosen is representative of the population.
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The term monopoly means a single seller (mono = single and poly = seller). In economics, a monopoly refers to a firm which has a product without any substitute in the market. Therefore, for all practical purposes, it is a single-firm industry.
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Sumit Kumar 4 years, 4 months ago
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