Unformatted text preview: t their primary business activity. Data Data Errors • Using any data that happens to be available or that were acquired with little care can lead to poor and misleading information. Slide 20 20 Simple Random Sampling
Finite Finite Population • A simple random sample from a finite population of of size N is a sample selected such that each possible possible sample of size n has the same probability of of being selected. • means any sample should be representative of should population being sampled – KEY POINT • Sampling without replacement is the procedure used most often. • In large sampling projects, computer-generated computerrandom numbers are often used to automate the sample selection process.
Slide 21 21 7 Simple Random Sampling
Infinite Infinite Population • A simple random sample from an infinite population is a sample selected such that the following conditions are satisfied. • Each element selected comes from the same population. • Each element is selected independently. • The population is usually considered infinite if it involves an ongoing process that...
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This note was uploaded on 11/15/2010 for the course ECO 6416 taught by Professor Staff during the Spring '08 term at University of Central Florida.
- Spring '08