MIS171 Lecture Notes - Lecture 7: Royal Institute Of Technology, Standard Deviation, Point Estimation
Document Summary
Five key words in statistics: population, census, sample, error, probability. Understanding the population is the goal our purpose even though we spend most of the time working with the sample. Random samples: simple random, stratified, systematic, cluster. Where the probability of any particular element of the population entering the sample is unknown and, Some individuals or items in the population have greater chance of selection than others. This means that statistically valid statements or inferences cannot be made about the precision of the estimates. Advantages : the sampling costs are lower and the implementation is easier, sometimes there is no alternative, as a random sample cannot be taken. In particular, no statistical statement should be made about the precision of the result. Each element of the population has a known (non-zero) chance of being included in the sample chosen. For the rest of this course we assume all samples are random samples.
