STAT1060 Final
Comprehensive Questions
with Complete Solutions
Graded A+ (100% Certified)
Your Exam Plug
,Contact for
further assistance
1. Benefits of sampling
Answer: Lower cost Greater
accuracy
Greater speed
Availability of
elements
Leaves product left to sell (when testing expiry etc)
=> alternative is to take census
2. Parameter Answer: a determining numerical characteristic; a factor that shapes the total
outcome; a limit, boundary
=> eg. population mean
population has unknown parameters
sample has estimated parameters (which are the statistics, used to estimate pop. parameters)
3. summary statistics Answer: mean, median, min, max, count, sum
4. How big should a sample be? Answer: Larger sample = higher
confidence of estimate Needs to be larger for Answer:
-greater variation (to = precision)
-greater desired precision
-smaller error range
-more subgroups
+ cost considerations
,Contact for
further assistance
5. factors when sampling Answer:
Cost of sampling Data adequacy -
availability of sample frame elements
*Eflciency*
-Statistical eflciency - a sample that provides a given precision of estimate with a smaller sample size
-Economic eflciency - precise estimate at lower cost - Simplicity Flexibility - enables the use of
ditterent research methods and procedures
6. When is census appropriate? Answer: -Population size is quite small
-Information is needed from every individual in the population
-Elements ditterent from each other = high variability
-Cost of making an incorrect decision is high
-Sampling errors are high
or if data is already collected from some other purpose
Comprehensive Questions
with Complete Solutions
Graded A+ (100% Certified)
Your Exam Plug
,Contact for
further assistance
1. Benefits of sampling
Answer: Lower cost Greater
accuracy
Greater speed
Availability of
elements
Leaves product left to sell (when testing expiry etc)
=> alternative is to take census
2. Parameter Answer: a determining numerical characteristic; a factor that shapes the total
outcome; a limit, boundary
=> eg. population mean
population has unknown parameters
sample has estimated parameters (which are the statistics, used to estimate pop. parameters)
3. summary statistics Answer: mean, median, min, max, count, sum
4. How big should a sample be? Answer: Larger sample = higher
confidence of estimate Needs to be larger for Answer:
-greater variation (to = precision)
-greater desired precision
-smaller error range
-more subgroups
+ cost considerations
,Contact for
further assistance
5. factors when sampling Answer:
Cost of sampling Data adequacy -
availability of sample frame elements
*Eflciency*
-Statistical eflciency - a sample that provides a given precision of estimate with a smaller sample size
-Economic eflciency - precise estimate at lower cost - Simplicity Flexibility - enables the use of
ditterent research methods and procedures
6. When is census appropriate? Answer: -Population size is quite small
-Information is needed from every individual in the population
-Elements ditterent from each other = high variability
-Cost of making an incorrect decision is high
-Sampling errors are high
or if data is already collected from some other purpose
