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Sampling and tests of significance are very important tools in business economics. In fact one cannot do any meaningful marketing research without the requisite knowledge of sampling techniques.Any collection (usually large) of individuals or objects is called a population or universe.A finite subset of a population is called a sample. The number of individuals in a sample is called the sample size. 1. Random Sampling: When a sample is taken in such a way that each member of the population has the same probability of being selected, the sample so obtained is called a random sample and the technique is called random sampling. 2. Simple Sampling: It is a special case of random in which each event has the same probability of success and the probability of an event is independent of the success or failure of event in the preceding trails. Thus, simple sampling is a random sampling in which the trails are independent and the probability of success is constant. 3. Large and the small sample: Sample of size n > 30 is called large samples and samples of size n ≤ 30 is called small samples. 4. Hypothesis: In order to make certain decisions about a population on the basis of sample information, some assumption is made about the population. Such assumption, which are not necessarily true, are called statistical hypothesis. 5. Null Hypothesis: The hypothesis tested for possible rejection under the assumption that it is true, is called the null hypothesis. 6. Parameters and Statistics: The Statical constants of the population viz., mean (μ), variance (σ2), etc., are usually referred to as parametrs. The statistical measures computed from the sample observations above, e.g., mean X¯, variance (s2), etc., are called statistics. 7. Level of significance : We are not introducing binomial statement and Normal distribution in this introductory book .The following statements may be taken as given: (i) Normal distribution is the limiting case of the binomial distribution. When n -> α (i.e., the number of trials is indefinitely large) and neither P nor q is very small. (ii) The vitiate Z is defined by
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
What are the external constraints on government action less developed countries? External Constraints on Government Action LDCs face external factors beyond their control are:
Please turn in the linear program for the following problem. No need to solve the LP. Exercise 3 (Multi-Period Fixed Income Capital Budgeting) As part of the settlement for a class
You have an opportunity to invest in a new plant. The fixed costs are $100,000 per year. The marginal cost of production is $2 for a quantity up to 10,000 units per year. The margi
Managerial economics bridges the gap between economic theory and practice
need help how to write a introduction for the assignment of business environment
A transition economy is Moving from a planned to a mixed or free market economy.
c) Compare and contrast two advantages of refurbishing an existing building with two advantages of developing a Greenfield site.
in the banking systems, when clearing checks, the difference between the Federal Reserve''s credits and debits is the
Consider the following information in the international money markets: Spot rate : $0.95:€ Forward rate (one year) :
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