Gain understanding of a sampling and estimation method

Reference no: EM131122409

Using the data from your own survey (see Exercise 5 of Chapter 2) give 95% and 99% confidence intervals for the population mean and total.

Exercise 5 The best way to gain understanding of a sampling and estimation method is to carry it out on some real population of interest to you. If you are not already involved in such a project professionally, choose a population and set out to estimate the mean or total by taking a simple random sample. Examples include estimating the number of trees on a university campus by conceptually dividing the campus into plots, estimating the number of houses in a geographic area by selecting a simple random sample of blocks, or estimating the mean number of people per vehicle during rush hour. In the process of carrying out the survey and making the estimates, think about or discuss with others the following:

(a) What practical problems arise in establishing a frame, such as a map or list of units, from which to select the sample?

(b) How is the sample selection actually carried out?

(d) Estimate the population mean and total.

(e) Estimate the variance of the estimators used in part (d).

(f) How would you improve the survey procedure if you were to do it again?

Reference no: EM131122409

Questions Cloud

Price maker is monopoly-firm within monopolistic competition : A price maker is a monopoly or a firm within monopolistic competition that has the power to influence the price it charges as the good it produces does not have perfect substitutes. how does this apply to procurement practices at WALMART

A random sample without replacement : In Figure 2.4, the locations of objects (e.g., trees, mines, dwellings) in a study region are given by the centers of "+" symbols. The goal is to estimate the number of objects in the study region.

How do operations managers influence potential users : What can be done to ensure that performance measurements at various levels in an organization are integrated into one system that can help managers, working at levels that range from operational to financial?

When did the company implement the management tool : What conditions lead the company to implement to the selected topic. When did the company implement the Operations Management tool. Document results of the implementation of the Operations Management tool. Profit/productivity improvement etc. When di..

Gain understanding of a sampling and estimation method : Using the data from your own survey (see Exercise 5 of Chapter 2) give 95% and 99% confidence intervals for the population mean and total.

Prepare the accounts payable subsidiary ledger : Prepare the accounts payable subsidiary ledger, and determine that the total agrees with the ending balance of the accounts payable controlaccount.

Confidence interval for the population mean : (c) For each sample, construct a standard 95% confidence interval for the population mean. What is the actual coverage probability for the method with this population and design?

How concept that you identified could affect the us economy : Identify at least four key points of a relevant economic article from either or a newspaper. The article must deal with any course concepts covered in Weeks 1-8. Explain how the concept that you identified in Question 2 could affect the U.S. econom..

Confidence intervals for the population total : From the data of parts (a) and (b) of Exercise 1 of Chapter 2, construct approximate 95% confidence intervals for the population total. Also construct approximate 95% confidence intervals for the population mean per unit

User Account

All Pages