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Q. How to Choose a Sample?
The way a sample is chosen is extremely important in all statistical studies. This is because, ultimately, all the inferences will be based on the statistical calculations from the data obtained from the sample.
Since collecting data is such an important part of a study, there are a few steps that are followed when collecting data:
Define the objectives of the survey, observational study or experiment. What are you trying to accomplish?
Define the variable and the population of interest.
Define the procedures for collecting and measuring the data (sampling procedures, sample size, questionnaire, telephone, etc.).
Determine the appropriate analysis technique.
Now imagine that consumption is given as: C = 400 + 0.9YD - 1,750i And as above: Y = PE = C + I + G + NX (Income identity)
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