Discuss impact of sample size on given parametric values

Reference no: EM131404556

1. Every population has a parametric mean (µ) and parametric standard deviation (s). Briefly discuss the impact of sample size on these parametric values.

2. Fact: by increasing sample size, the researcher does not reduce the size of the parametric standard deviation (s) but does decrease the uncertainty associated with the estimation of parametric values. Briefly explain the implications of this fact.

3. The concept of Degrees of Freedom re-appears throughout the study of statistics. Given a sample size of five (n=5), what are the degrees of freedom? Provide a detailed example using real numbers.

Reference no: EM131404556

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