Author Question: To judge a statistical relationship, should a researcher preferably rely on a small sample or a ... (Read 65 times)

maychende · **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

lkanara2 · **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