What is the definition of a random sample?
a. It is a distinct possible result of an experiment.
b. It is a collection of distinct possible results of an experiment.
c. A sample that is taken in such a way that any possible sample of a given size has the same probability of being selected.
d. It is the sample that has the greatest probability of being selected.
Question 2
In bidding models, the simulation input variable is the number of competitors who will bid.
a. True
b. False
Indicate whether the statement is true or false