Intro to Business Statistics

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Simple random sample

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Intro to Business Statistics

Definition

A simple random sample is a subset of a statistical population in which each member has an equal chance of being chosen. It ensures that the sample represents the entire population without bias.

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5 Must Know Facts For Your Next Test

  1. Each member of the population has an equal probability of being selected.
  2. Simple random sampling can be done with or without replacement.
  3. It is a fundamental technique used to achieve unbiased estimates in hypothesis testing.
  4. The size of the sample can affect the accuracy and reliability of statistical inferences.
  5. Simple random sampling often requires a complete list of all members in the population.

Review Questions

  • What is a simple random sample and why is it important in statistics?
  • How does simple random sampling differ from other sampling methods?
  • Why is it crucial for each member of the population to have an equal chance of selection in simple random sampling?
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