Sampling Error 

It is the difference between the value of the actual population parameter and the sample statistic.

Samples are used to arrive at conclusions regarding the population. For example, the sample mean is computed to arrive at an estimate of the population mean. However, the sample mean may not be equal to the population mean. The difference between the two means would be the Sampling Error.

Box 1: Error Terror

Hi Financials Ltd. recently commissioned a market survey to assess the growth in the number of equity investors in the country. A preliminary report revealed a sharp decline in the number of equity investors and raised several eyebrows in the board room. However, it was later clarified that the preliminary report was based on very small sample so that the conclusion was not applicable to the population as a whole. It was a case of sampling error.

A subsequent survey involving a larger sample revealed a healthy growth in the equity investor population. 

Posted Date: 9/15/2012 3:04:40 AM | Location : United States

Ask an Expert

Related Discussions:- Sampling error , Assignment Help, Ask Question on Sampling error , Get Answer, Expert's Help, Sampling error Discussions

Write discussion on Sampling error
Your posts are moderated

Write your message here..

Related Questions

Population census, what are the challenges affecting population census in d... what are the challenges affecting population census in developing countries

Probability, There are 15 types of ice cream: A,B,C,D,E,F,G,H,I,J,K,L,M,N, ... There are 15 types of ice cream: A,B,C,D,E,F,G,H,I,J,K,L,M,N, and O. How many combinations are there to sample 5 flavors if you sample 1 flavor 4 times? How many combinations are t

Convenience sampling, Convenience Sampling It means a convenient sample... Convenience Sampling It means a convenient sample is obtained by selecting convents units from the universe. Convenient sample is also known as chunk. It   means a fraction of

Interaction of enviornment and gene , entropy test to measure interaction b... entropy test to measure interaction between enviornmental factors and genes

What-if Analysis, Ask Describe What-if Analysis Ask Describe What-if Analysis

Histogram, Histogram: It is generally used for charting continuous fre... Histogram: It is generally used for charting continuous frequency   distribution. In histogram, data are plotted as a series  of rectangle one over the other. Class intervals

Types of correlation, Type of Correlation 1.      Positive and Negat... Type of Correlation 1.      Positive and Negative Correlation: 2.      Simple Partial and Multiple Correlations. 3.      Linear and  Non linear or Correlations

Correlation coefficients, What type of correlation coefficient would you us... What type of correlation coefficient would you use to examine the relationship between the following variables? Explain why you have selected the correlation coefficients. A. Re

Che, Chebychev inequality Chebychev inequality

Find the probability that a lift will weigh, Lifts usually have signs indic... Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads "maximum capacity 1400kg or 20 persons". Suppose that the weights of lift-users are