ECO220Y1 Chapter Notes - Chapter 3: Systematic Sampling, Multistage Sampling, Cluster Sampling
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ECO220Y1 Full Course Notes
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I. e. too small a sample will yield less accurate data. Census: an attempt to collect data on the entire population of interest (sample becomes the population). Problems with attempting a census: may be difficult to complete (i. e. hard to contact every single person in the population), the population may change (i. e. births/maturity/deaths and changes in tastes/preferences). A sample done in a shorter time frame can virtually eliminate this issue: double counting (i. e. someone has a primary and a secondary residence). Models of data can give us summaries that we can learn from and use even though they don"t fit each data value exactly. Parameter: a numerically valued attribute of a model for a population: the value is rarely known; rather the hope is to estimate it from sampled data. Population parameter: a parameter used in a model for a population.
