Answer:
Correct option: 3. Cluster Sampling.
Step-by-step explanation:
Cluster sampling method is the type of sampling where first the entire population is divided into groups and then a random sample of fixed size is selected from each group.
In this case also, the researcher first divides the population of students in Scion School of Business into groups according to their class standing.
Then he selects 50 students from each of these groups to create a representative sample of the entire student body.
Thus, the sampling method used is Cluster Sampling.