To judge a statistical relationship, should a researcher ...

[maychende]

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]

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]

Gracias!

[nathang24]

Excellent