Week 2 exercises - Week 2 exercises Chapter 8 Sample...

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Week 2 exercises Chapter 8 Sample Methods and Central Limit Theorum 21. What is sampling error? The error between the population mean and the sample mean. Could the value of the sampling error be zero? Yes it is possible but very unlikely to be exactly zero. If it were zero, what would this mean? The sample mean and the population mean are equal. 22. List the reasons for sampling. Give an example of each reason for sampling. 1. Time consuming to contact whole population. This is undesirable for large populations for example, contacting all the employees of Wal-Mart stores, distribution, acquisition, corporate HQ, etc… 2. Costly to contact whole population. 100% contact can be expensive in resources (brochures/questionnaires/electronic surveys/manhours) for whole populations identifying Veteran’s satisfaction with their benefits. 3. Physically impossible to check all the population. An example would be identifying the quantity of gallons of water that have flowed from all the springs in Missouri since they were created.
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