ECON1101 Study Guide - Quiz Guide: Bar Chart, Unimodality, Threshold Of Pain
29 Oct 2020
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Consider the following steps during statistical analysis: Understand the type of data required and collatet that data. Present the data through appropriate forms eg. graphs, and check for unusual data, eg. outliers, errors in data collection. Apply the appropriate statistical analysis to the data, and then extract information that results from such analysis. Draw conclusions from the analysis and communicate them. Sampling involves taking a subset of data points from a. A population is a group which consists of all elements which can be used to collect data for analysis. Sampling is undertaken because it is easier to take a sample than to analyse every individual element, which may be expensive or even impossible. When sampling, it is important to get data which is representative of the population. To do this, random sampling is used, meaning no prior consideration has been undertaken in choice of data points.
