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stats - 9/8 Objective of Statistics The objective of...

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9/8 Objective of Statistics - The objective of statistics is to make an inference about a population based on info contained in a sample. - A parameter is a numeric value that describes a population characteristic. Ex. If we want to know how many people are in a population, the parameter we are interested in, is the total. - ‘N’ represents the total number of items/people in our population. - The mean/average of some population characteristic is also a parameter . I. Sampling and Populations A. Sampling 1. A sample is a subset of the population 2. More specifically, a sample is a portion of the population that is studied in order to make inferences about the entire population. 3. Random sample is each item in the sample is selected by chance. Also known as SRS. 4. You know that a sample has been collected randomly if the answer to the following question is yes: “does every name or thing in the population have an equal chance to be in the sample?” 5. Disadvantage of random sampling is that it is vulnerable to sampling error.
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