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SYM 506 Applied Business Probability & Statistics

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  • 13 terms

    Term:

    Reasons to Sample

    Definition:

    1. Contact he whole population would be time-consuming 2. The cost o studying all the items in a population may be prohibitive 3. The physical impossibility of checking all items in the population. 4. The destructive nature of some tests. Ex. wine tasters, environmental quality i.e. water or species tests...could consume the entire supply or entire supply is to vast. 5. The sample results are adequate.

    • Sampling Methods
    • 13 terms
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