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The marks of 5 students in Economics are 20, 24, 20, 30 and 26. Random samples of size 2 are drawn without replacement. Calculate E(x) and SE (x) . How far the values of E(x) and SE (x) change if samples are drawn by “with replacement” method? |
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Answer» A critical part of inferential statistics involves determining how far SAMPLE statistics are likely to vary from each other and from the population parameter.The sampling distribution of a statistic is the distribution of that statistic, considered as a random variable, when DERIVED from a random sample of size n.Sampling distributions allow analytical considerations to be BASED on the sampling distribution of a statistic rather than on the JOINT probability distribution of all the individual sample values.The sampling distribution depends on: the underlying distribution of the population, the statistic being considered, the sampling procedure employed, and the sample size used.Key Termsinferential statistics: A BRANCH of mathematics that involves drawing conclusions about a population based on sample data drawn from it.sampling distribution: The probability distribution of a given statistic based on a random sample. |
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