Statistics Assignment Mba
Statistics for Business and Economics
Personal pre-assignment
1.9
What is a representative sample? What is its value?
The representative sample is a subset of a population of interest that is exhibiting the typical characteristics of the population. The most typical way to cover the up-mentioned criterion is the simple random sample which consist of a sample of units that is selected randomly, e. g. the sample is selected form the population on a way that every sample of the size is having the same or equal chance to be selected.
The value of the representative sample is that it gives us the chance to observe and analyze different populations on a most economic and less time consuming way, because the observations made on the base of the representative sample could depicture on a reliable way the characteristics of the population that we are interested in without the need to observe all the samples in the population. That’s way the representative sample is the best way to analyze relatively big populations.
1.16
The experimental unit is the QB of the National Football League. In this case we have a sample of 331 QB drafted between 1970 and 2007.
The type of the variables in this sample is as follows: * Draft pick is a quantitative data (here I’ll would like to clarify that I have no idea what are the rules in the NFL and only trying to think logically I came to the conclusion that most probably this draft is composed according to some points that the QB won during the previous season. If the rules are not as described up and the draft is composed based on some personal characteristics of the QB, e.g. personal approach towards the game, reputation and so on the data would be qualitative, because such characteristics couldn’t be measured on a natural numerical scale.) * NFL wining ratio is a quantitative data * QB production score is a quantitative data
Making estimates, decisions, predictions or generalizations based on sample data is
Personal pre-assignment
1.9
What is a representative sample? What is its value?
The representative sample is a subset of a population of interest that is exhibiting the typical characteristics of the population. The most typical way to cover the up-mentioned criterion is the simple random sample which consist of a sample of units that is selected randomly, e. g. the sample is selected form the population on a way that every sample of the size is having the same or equal chance to be selected.
The value of the representative sample is that it gives us the chance to observe and analyze different populations on a most economic and less time consuming way, because the observations made on the base of the representative sample could depicture on a reliable way the characteristics of the population that we are interested in without the need to observe all the samples in the population. That’s way the representative sample is the best way to analyze relatively big populations.
1.16
The experimental unit is the QB of the National Football League. In this case we have a sample of 331 QB drafted between 1970 and 2007.
The type of the variables in this sample is as follows: * Draft pick is a quantitative data (here I’ll would like to clarify that I have no idea what are the rules in the NFL and only trying to think logically I came to the conclusion that most probably this draft is composed according to some points that the QB won during the previous season. If the rules are not as described up and the draft is composed based on some personal characteristics of the QB, e.g. personal approach towards the game, reputation and so on the data would be qualitative, because such characteristics couldn’t be measured on a natural numerical scale.) * NFL wining ratio is a quantitative data * QB production score is a quantitative data
Making estimates, decisions, predictions or generalizations based on sample data is