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What Is A Sampling Distribution-ECO6416

What Is A Sampling Distribution-ECO6416 - What Is A...

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What Is A Sampling Distribution? A sampling distribution describes probabilities associated with a statistic when a random sample is drawn from the entire population. The sampling distribution is the density (for a continuous statistic, such as an estimated mean), or probability function (for discrete statistic, such as an estimated proportion). Derivation of the sampling distribution is the first step in calculating a confidence interval or carrying out a hypothesis testing for a parameter . Example: Suppose that x1, ....... ,xn are a simple random sample from a normally distributed population with expected value μ and known variance σ 2 . Then, the sample mean is normally distributed with expected value μ and variance σ 2 /n. The main idea of statistical inference is to take a random sample from the entire particular population and then to use the information from the sample to make inferences about the particular population characteristics such as the mean μ (measure of central tendency), the standard deviation (measure of dispersion, spread) σ or the proportion of units in the population that have a certain characteristic. Sampling saves money, time, and effort. Additionally, a sample

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