8-27-07

# 8-27-07 - Sampling Error – definition between...

This preview shows page 1. Sign up to view the full content.

8/29/07 Chapter 1 What managers need to know about statistics? Draw conclusions about a population based on a sample. How to improve processes. How to obtain a reliable forecast. Model – mathematical relation between two or more variables Q=10-5P+AB+UT Chapter 2 Population – everything you wish to study Sample – a piece of the population Variable – used to represent a characteristic of each member of the population (i.e. gender, height etc.)
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Sampling Error – definition between characteristics of population and characteristics of sample Reduce Error? Increase size of sample. Things that determine the sampling error: Size of sample. Amount of variation in population. Parameters vs. Statistic Describes Population Describes Sample Size of Population (N) # of members in population Size of Sample (n) # of members in sample Error Population Sample...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online