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Sampling

Sample Versus Population Metrics

Learning Objectives

In this section, you will learn:

  • Why it matters to differentiate between samples and populations
  • Some population and sample parameters of interest
  • When sampling should be used
  • The difference between a sample and a census
  • How to measure population characteristics using sampling

Sample vs Population

Up to this point in time, it really has not mattered if we were dealing with a sample or a population. The only difference in this course so far has been:

  • when calculating the standard deviation
  • there were different formulas for calculating the standard deviation of a population
  • compared to calculating the standard deviation of a sample.

License

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An Introduction to Business Statistics for Analytics (1st Edition) Copyright © 2024 by Amy Goldlist; Charles Chan; Leslie Major; Michael Johnson is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License, except where otherwise noted.

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