Chapter 2 Data Collection

Chapter 2 Data Collection - Click to edit Master subtitle...

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Unformatted text preview: Click to edit Master subtitle style Professor Thomas R. Professor Thomas R. 11 Data Collection Professor Thomas R. Sexton College of Business Stony Brook University Professor Thomas R. Professor Thomas R. 22 Examples of Business Data n Customer satisfaction survey n Transactions data base n Human resources data base n Store-level data within a chain n Stock prices and indices n Firm-level financial data n Market share data Professor Thomas R. Professor Thomas R. 33 Census or Sample? n Census n Collect data on every member of the population n Emphasis on data summary and description n Sample n Collect data on a subset of the population Professor Thomas R. Professor Thomas R. 44 Why Sample? n Very large (even infinite) population n Wal-Mart customers over past year n Limited time n Decision deadlines n Limited resources n Money and people n Limited data base n Missing variables n Destructive testing Professor Thomas R. Professor Thomas R. 55 Populations and Samples Target Population: Items you wish to study. Size = N . Sampling Frame: Set from which you select sample items. Sample: Selected items. Size = n . Parameter: Numerical characteristic of the Statistic: Numerical value calculated from Professor Thomas R. Professor Thomas R. 66 Coverage Error and Selection n Coverage error occurs if the sampling frame does not match the target population. This causes the sample statistic to be a poor estimate of the population parameter. n Sample statistic will be biased with respect to the population parameter. Professor Thomas R. Professor Thomas R. 77 Some Members of T Cannot F T Professor Thomas R. Professor Thomas R. 88 Example n Target Population: Stony Brook undergraduate students n Sampling Frame: Undergraduate students registered for at least one credit this semester. n Misses students who are taking a leave Professor Thomas R. Professor Thomas R. 99 Sample May Contain F T Professor Thomas R. Professor Thomas R. 1010 Example n Target Population: Stony Brook undergraduate students n Sampling Frame: Students with a valid Stony Brook ID. n Includes graduate students. Professor Thomas R. Professor Thomas R. 1111 Some Members of T Cannot Be Sampled & Sample May Contain Nonmembers of T F T Professor Thomas R. Professor Thomas R. 1212 Example n Target Population: Stony Brook undergraduate students n Sampling Frame: Residents of undergraduate student residence halls....
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Chapter 2 Data Collection - Click to edit Master subtitle...

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