QMB 3200 EXPECTED QUESTONS IN A SUMMARY FORM

QMB 3200 EXPECTED QUESTONS
IN A SUMMARY FORM
population
all possible subjects of interest
sample
subset of a population
parameters
values describing population
statistic
values describing sample
sampling distribution
distribution patter that averages or proportions follow when
samples are randomly drawn
standard error
standard deviations of sample means or proportions
why sample
entire population is expensive and time consuming, cant
examine everything if test is destructive
areas of sampling
accounting, marketing, operations management

, types of sampling
probability and non-probability
probability sampling types
simple random sample, systematic random sample, stratified
random sample, cluster sampling
non-probability sampling
convenience sampling
simple random sampling
every member of the population has an equal probability of
being selected for the sample, name in a hat
systematic random sampling
a variation of random sampling in which a researcher selects
every nth person from the population; every 5th kid
stratified random sampling
selecting elements from an accessible population that has been
divided into groups or strata; random sample of freshman,
sophomores, etc..
cluster sampling
a sampling technique in which clusters of participants that
represent the population are used; first period french class
convenience sampling
use results that are easy to get; use your 5 bff's