Sampling and subjective probability

Reference no: EM1394839

1) Why do you use sampling? Can you provide an example?

2) How many different types of sampling are there.

3) Why do we want to assume that our sample data represents a population distribution?

4) What are some conditions under which business decisions are made using subjective probability concepts? Could you please cite two examples of subjective probability.

Reference no: EM1394839

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