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Unformatted text preview: Example – Flipping a Coin • Each flip of the coin is random, therefore, the sample of 10 flips is random. • If we were to study the number of Heads, we would see that the probability of getting a Head approaches what we expect. – As the number of flips increases, the percentage gets closer and closer to 50%. Producing Random Samples • There are many ways to produce random samples – Picking numbers out of a hat – Random Number Tables (Appendix) – Random Number Generator on calculators – Random Number Generator on computers Random Number Table • Ex. We have 30 firms in the population and we need a sample of 5. 69051 64817 87174 09517 84534 06489 87201 69 05 16 48 17 87 17 40 95 17 85 53 06 48 98 72 01...
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 Spring '08
 Graham
 Randomness, Dice, random number table, Random Number Generator, Lotteries Bingo Flipping

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