Exam (elaborations)
QMB 3200 Bliss Exam 2 Questions And Answers Latest Update
- Course
- QMB 3200
- Institution
- University Of Central Florida
QMB 3200 Bliss Exam 2 Questions And Answers Latest Update
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Solution 2024/2025Pepper
QMB 3200 Bliss Exam 2 Questions And Answers Latest Update
A Population? ANS✔✔ consists of all items of interest in a statistical problem.
Statistics involve: Descriptive statistics which is? ANS✔✔ describing the data, usually in a tabular or graphical format.
Statistics Involve: Inferential which is? ANS✔✔ using a sample to make a determination about the population
parameters.
A Sample? ANS✔✔ is a subset of the population.
ANS✔✔
A sample(statistic) is used to: ANS✔✔ make inferences about a unknown population parameter.
A good (random) sample is: ANS✔✔ a sample that is representative of the population without bias. Also known as
probability samples.
BIAS refers to: ANS✔✔ the tendency of a sample statistic to systematically over or under estimate a population
parameter.
Selection bias refers to: ANS✔✔ a systematic exclusion of certain groups from consideration for the sample.
Nonresponse bias refers to: ANS✔✔ a systematic difference in preferences between respondents and non-respondents
to a survey or a poll.
, Solution 2024/2025
Pepper
Symbols: u ANS✔✔ is the mean for the population
Symbols: σ ANS✔✔ is the standard deviation of the population
Symbols: p ANS✔✔ is the true proportion of the population
Symbols: x ̅ ANS✔✔ is the sample mean
Symbols: s ANS✔✔ is the sample standard deviation
Symbols: p ̅ ANS✔✔ is the proportion for the sample
Symbols: N (for x ̅) ANS✔✔ the population size
Symbols: n (for x ̅) ANS✔✔ the sample size
Sampling is used to: ANS✔✔ make inferences about these parameters.
In regards to sampling, Two primary areas of interest are: ANS✔✔ population means and population proportions.
The key point to sampling is: ANS✔✔ it makes an inference about a population.
Sampling Methods: Using Excel ANS✔✔ a Random Number generator method (RAND) and then sort from either low to
high, or high to low, and this will give you a sample without replacement.
Sampling Methods: cluster sampling ANS✔✔ the population is first divided up into mutually exclusive and collectively
exhaustive groups, called clusters. A cluster sample includes observations from randomly selected clusters.
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