MKT 300 Lecture Notes - Lecture 19: Sampling Frame, Statistical Hypothesis Testing, Confidence Interval
Document Summary
The nature of sampling considerable on the entire population. Concept of sampling is that some of the population ekements provide useful information. How well it represents the characteristics of the population it purpots to represent. Economic and time advantage of taking a sample rather than a census are. Quality of a study can be better with sampling than a census. Sampling is also the only process possible if the population is infinite. Any sample we draw may not be representative of the population from which it is. Non-representative sample can lead to sample statistics that are incorrect. Accuracy is the degree to which bias is absent from the sample. An accurate sample is one in which the under-estimators and over-estimators are balanced among the members of the sample. There is no systematic variance with an accurate sample measurement terms, it must be accurate and precise drawn.
