Sampling error , Applied Statistics

Assignment Help:

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. 


Related Discussions:- Sampling error

Changes in a particular plant , Scenario : Mrs dick's year 1s and 2s carrie...

Scenario : Mrs dick's year 1s and 2s carried out a level-one science investigation to explain the changes in a particular plant over a period of time.  As part of the investigation

Level process control lab, Based on the following graphs (next page) you sh...

Based on the following graphs (next page) you should write a discussion report (2 pages) on: 1. Determination of whether the open-loop system response is consistent with a 1st o

Regression model, A real estate agency collected the data shown below, wher...

A real estate agency collected the data shown below, where           y  = sales price of a house (in thousands of dollars)           x 1 = home size (in hundreds of square f

The cost of living index, The cost of living index number on a some data wa...

The cost of living index number on a some data was 200. From the base period, the percentage enhances in prices were-Rent Rs 60, clothing Rs 250, Fuel and Light Rs 150 and Miscella

Define the term multicollinearity, Question: (a) (i) Define the term ...

Question: (a) (i) Define the term multicollinearity. (ii) Explain why it is important to guard against multicollinearity. (b) (i) Sometimes we encounter missing values

Index number, Index Number Meaning and Definitions of Index Number ...

Index Number Meaning and Definitions of Index Number The index numbers are the special type of averages which are presented in percentages and computed on certain base.

O-give curves, real time applications on graphical representation of o-give...

real time applications on graphical representation of o-give curves

Root mean square deviation, Root Mean Square Deviation The standard d...

Root Mean Square Deviation The standard deviation is also called the ROOT MEAN SQUARE DEVIATION. This is because it is the ROOT (Step 4) of the MEAN (Step 3) o

Correlation coefficient test, 1. If you are calculating a correlation coeff...

1. If you are calculating a correlation coefficient testing the relationship between height and weight, state the null and alternative hypotheses. 2. What kind of relationship d

Create the venn diagram, Create the Venn diagram: A   - you work for a...

Create the Venn diagram: A   - you work for an insurance company.  80% of your company's staff is sales force and 70% of your company's sales is force is male. in your company

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd