The concept of diminishing returns is used to explain
A)choice of sample size.
B)random digit dialing techniques.
C)response rate.
D)sampling error.
E)market definition.

Question

Quizplus · Accepted Answer

Diminishing returns refers to a situation in which the marginal benefit of adding one more unit of input decreases as more input is added. In regards to sample size, increasing the size of a sample beyond a certain point can lead to diminishing returns, as the additional data collected may not provide valuable or meaningful information. Therefore, choosing the optimal sample size is important to avoid diminishing returns.

The Concept of Diminishing Returns Is Used to Explain