Marginal efficiency of capital
The marginal efficiency of capital is the MRP of an extra unit of capital less its cost. MEC = MRP of Capital – Cost of…
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Remedies for Breach of Contract
The remedies for breach of contract are1. Damages – Monetary compensation is awarded to the injured party. A court decides on this figure. E.g. Robbie…
Termination of a Contract
A contract can come to an end when all the responsibilities and obligations that arose under the contract are no longer required. All rights that…
Eight Simplified Essential Elements of a Valid Contract
The law of contract affects every single transaction between buyers and sellers. It is a legally binding relationship between two or more people that is…
What are the essentials of a valid contract?
A contract is an agreement which legally binds the parties whereby each party promises to do, or not to do something.For a contract to be…
6 Subjective decisions to conduct a survey using unrestricted sampling
What is the relevant population? What are the parameters of interest? What is the sampling frame? – the list of elements from which the sample…
A disproportionate stratified probability sample?
This can be used when we need a sample from which we also want to observe or report on sub-groups and where stratum is large…
Using the finite population adjustment factor?
This can be utilized to reduce the sample size, when there is a large population size and the calculated sample exceeds 5% so that precision…
Simple random sample or cluster sample or stratified sample?
A simple random sample is the simplest form of probability sampling and should be used when each population requires an equal chance of selection; for…
Probability sample or non-probability sample?
I would suggest probability sampling in cases where it is cost effective and possible to do so, as this is more superior to non-probability sampling….