1. Would you collect information using a sample or population for the following situations? Why?
2. Economics 533 is a course taught at the University of Liberia graduate school. Professor Smith has taught nearly 1,500 students in the course over the past five years. You would like to know the average grade for the course.
3. As part of your master's research project, you need to report the average profit as a percentage of revenue for the #1-ranked corporation in the Fortune 500 for each of the last ten years.
4. You are looking forward to graduation and your first job as a salesperson for one of five large pharmaceutical corporations. Planning for your interviews, you will need to know about each company's mission, profitability, products, and markets.