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Mgmt Sci - Ch 4
Exma 1
24
Business
Undergraduate 4
09/14/2010

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Term
sampling plan
Definition
a  description of hte approach that will be used to btain samples from a population prior to any data collection activity
Term
frame
Definition
the list from which the sample is selected
Term
simple random sampling
Definition
involves selecting items from a population so that every subset of a given size has equal chance of being selected
Term
judgment sampling
Definition
uses expert judgment to select the sample
Term
convenience sampling
Definition
samples are selected basaed on the ease with which the data can be collected
Term
systematic period sampling
Definition

selects items periodically from the population

 

ex. every 25 names

Term
stratified sampling
Definition

applies to populations that are divided into natural subsets (strata) and allocated teh appropriate proportion of samples to each stratum

 

ex. large city divided into political wards/districts

Term
cluster sampling
Definition

based on dividing a population into subgroups (clusters), sampling a set of clusters, and (usually) confiction a complete census within the clusters sampled

 

ex.all customers in one geographic region

Term
sampling from a continuous process
Definition

selecting a sample from continuous manufacturing process can be accomplished in 2 main ways:

  1. select a time at randome; then select the next n items produced after that
  2. select n times at ramdon; then select the next item produced after these times
Term
nonsampling error
Definition
occurs when a sample does not represent the target population adequately
Term
sampling (statistical) error
Definition
occurs because samples are only a subset of the population
Term
estimation
Definition
invloves assessing the value of an unkown populaton parameter (ex. mean) using sample data
Term
point estimates
Definition
single numbers used to estimate the value of a population parameter
Term
confidence nterval estimates
Definition
provide a range of values between which the valie of hte population parameter is believed to be, and alos provide an assessment of sampling error by specifying a probability that the interval correctly estomates the true (unknown) population parameter
Term
unbaised
Definition
if the expected value of an estimator equals the population parameter it is intended to estimate
Term
biased
Definition
if the expected value of an estimator is not equal to the population parameter it is intended to estimate
Term
interval estimate
Definition
provides a range within which we believe the true population parameter falls
Term
confidence interval
Definition
an interval estimate that also specifies the likelihood that hte interval contains the true population parameter
Term
level of confidence
Definition
also known as the confidence interval
Term
t-distribution
Definition

a family of probability distributions with a shape similar to the standard normal distribution

 

have an additional parameter: degrees of freedom

Term
degrees of freedom (df)
Definition

makes the t-distribution unique?

 

when df is high it looks like anormal distribution, as df decreases the curve levels out

Term
sample proportion
Definition
an nbaised estimator of a population proportion pi
Term
chi-square distribution
Definition

characterized by degrees of freedom

not normal

Term
probability interval
Definition
desribes the probability that random variable falls w/i the interval and is often used in desribing risk
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