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Author Question: To judge a statistical relationship, should a researcher preferably rely on a small sample or a ... (Read 57 times)

maychende

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on: Jun 29, 2018
To judge a statistical relationship, should a researcher preferably rely on a small sample or a large sample? Explain your answer.
 
  What will be an ideal response?

Question 2

Refer to the scenario above. What is the probability of getting tails?
 
  A) 25
  B) 50
  C) 75
  D) 100


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lkanara2

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A key strength of economic and statistical analysis is the amount of data used. Small samples are not representative of the entire population. Therefore, the predictions of a model based on smaller samples may be only a very weak approximation of some real world phenomena and lead to inaccurate predictions. Using a larger sample, or in other words, a lot of data, strengthens the force of an empirical argument as the researchers can make more precise statements.

Answer to Question 2

B


maychende

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

kthug

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Reply 3 on: Yesterday
Wow, this really help

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