QMB 3200 Exam 2 2024 Questions & Answers!

sample - ANSWERSsubset of a population parameters - ANSWERSvalues describing population statistic - ANSWERSvalues describing sample sampling distribution - ANSWERSdistribution patter that averages or proportions follow when samples are randomly drawn standard error - ANSWERSstandard deviations of sample means or proportions why sample - ANSWERSentire population is expensive and time consuming, cant examine everything if test is destructive areas of sampling - ANSWERSaccounting, marketing, operations management types of sampling - ANSWERSprobability and non-probability probability sampling types - ANSWERSsimple random sample, systematic random sample, stratified random sample, cluster sampling non-probability sampling - ANSWERSconvenience sampling simple random sampling - ANSWERSevery member of the population has an equal probability of being selected for the sample, name in a hat systematic random sampling - ANSWERSa variation of random sampling in which a researcher selects every nth person from the population; every 5th kid stratified random sampling - ANSWERSselecting elements from an accessible population that has been divided into groups or strata; random sample of freshman, sophomores, etc.. cluster sampling - ANSWERSa sampling technique in which clusters of participants that represent the population are used; first period french class convenience sampling - ANSWERSuse results that are easy to get; use your 5 bff's