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Sampling Error
It is the difference between the value of the actual population parameter and the sample statistic.
Samples are used to arrive at conclusions regarding the population. For example, the sample mean is computed to arrive at an estimate of the population mean. However, the sample mean may not be equal to the population mean. The difference between the two means would be the Sampling Error.
Box 1: Error Terror
Hi Financials Ltd. recently commissioned a market survey to assess the growth in the number of equity investors in the country. A preliminary report revealed a sharp decline in the number of equity investors and raised several eyebrows in the board room. However, it was later clarified that the preliminary report was based on very small sample so that the conclusion was not applicable to the population as a whole. It was a case of sampling error.
A subsequent survey involving a larger sample revealed a healthy growth in the equity investor population.
Grouped Data For calculating mode from a frequency distribution, the following formula Mode = L mo + x W where,
The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval. The margin of error in this case is slightly larger tha
In recent years a number of calculators are available for doing statistical calculations over and above the usual addition, subtraction, multiplication and division. The fx-82 mode
Properties of correlation
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In a management class of 100 childerns' 3 languages are offered as an additional subject viz. Hindi, English and Kannada. There are 28 childrens taking Hindi, 26 taking Hindi and 1
The Neatee Eatee Hamburger Joint specializes in soyabean burgers. Customers arrive according to the following inter - arrival times between 11.00 am and 2.00 pm: Interval-arriva
Regression Coefficient While analysing regression in two related series, we calculate their regression coefficients also. There are two regression coefficients like two regress
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