Intro to Econometrics
Sampling variability refers to the natural fluctuations in sample statistics that occur when different samples are drawn from the same population. This concept highlights that if we were to take multiple samples from a population, each sample would likely yield different results, leading to a range of possible estimates for any given statistic. Understanding sampling variability is crucial for assessing the reliability of estimates derived from sample data.
congrats on reading the definition of sampling variability. now let's actually learn it.