Ch05 - Chapter 5 Data Collection and Sampling 1 5.2 Methods...

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1 Data Collection and Sampling Chapter 5
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2 5.2 Methods of Collecting Data The reliability and accuracy of the data affect the validity of the results of a statistical analysis. The reliability and accuracy of the data depend on the method of collection. Three of the most popular sources of statistical data are: Published data Observational studies Experimental studies
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3 This is often a preferred source of data due to low cost and convenience. Published data is found as printed material, tapes, disks, and on the Internet. Data published by the organization that PRIMARY DATA. For example: Data published by the US Bureau of Census. Data published by an organization different than the organization that has collected it is called SECONDARY DATA . For example: The Statistical abstracts of the United States, compiles data from primary sources Compustat, sells variety of financial data tapes compiled from primary sources Published Data
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4 Observational study is one in which measurements representing a variable of interest are observed and recorded, without controlling any factor that might influence their values. Experimental study is one in which measurements representing a variable of interest are observed and recorded, while controlling factors that might influence their values. When published data is unavailable, one needs to conduct a study to generate the data.
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Ch05 - Chapter 5 Data Collection and Sampling 1 5.2 Methods...

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