Intro to Econometrics
Sample size determination is the process of calculating the number of observations or replicates needed in a statistical sample to achieve a desired level of accuracy and confidence in results. This concept is crucial in ensuring that estimates drawn from a sample can be generalized to the larger population, influencing the reliability of statistical inference. It plays a key role in sampling and estimation, as well as in constructing confidence intervals that indicate the range within which a population parameter likely falls.
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