Chapter5_STAT1100.ppt", filename="Chapter5_STAT1100.ppt", filename="Chapter5_STA

Chapter5_STAT1100.ppt", filename="Chapter5_STAT1100.ppt", filename="Chapter5_STA

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Data Collection and Sampling Statistics for Management and Economics Chapter 5
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Objectives Methods of Collecting Data Sampling Sampling Plans Sampling and Nonsampling Errors
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Sampling and statistics… Data Statistics Information Statistics is a tool for converting data into information : But where then does data come from? How is it gathered? How do we ensure its accurate? Is the data reliable? Is it representative of the population from which it was drawn?
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Methods of Collecting Data There are many methods used to collect or obtain data for statistical analysis. Three of the most popular methods are: Direct Observation / Naturalistic Observation Experiments Surveys Each of these methods can be utilized in different types of data collection: Cross-sectional Longitudinal Retrospective Prospective
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Sampling Sampling is the process of selecting a sub- set of a whole population. Often done for reasons of… cost (it’s less expensive to sample 1,000 television viewers than 100 million TV viewers) and practicality
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Chapter5_STAT1100.ppt", filename="Chapter5_STAT1100.ppt", filename="Chapter5_STA

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