EC255 Study Guide - Midterm Guide: Normal Distribution, Confidence Interval, Central Limit Theorem
Document Summary
Census - study of all units of the population of interest. Sample - study of only a portion of that population. Frame - list, map, directory, or some other source that is being used to represent the population in the process of sampling. Sampling is done from the frame, not the target population (in theory, they are the same) Random sampling - every unit of the population has the same probability of being selected into the sample, ex. Nonrandom sampling - each unit of the population has an unknown probability of being included in the sample. Must know distribution of sample mean to compute probability. Suppose a small finite population consists of only n = 8 numbers: Suppose we take all possible samples of size n = 2 from this population with replacement. The result will be many pairs of data. The means then are found of each pair of data.
