33 lines
1.3 KiB
Markdown
33 lines
1.3 KiB
Markdown
(Ch 19, stat 1040)
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| Term | Definition |
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| ---- | ---- |
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| Qualitative | A descriptive value (red, blue, high, low) |
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| Quantitative | A numerical value (7, 8, 9) |
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| Population | The entire set of existing units that investigators wish to study |
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| Sample | A portion or subset of the population |
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| Parameter | A number that describes a characteristic of a *population* (*10%* of US senators voted for something) |
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| Statistic | A number that describes a *sample* characteristic (*71%* of Americans feel that ...) |
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> A global consumer survey reported that 6% of US taxpayers used or owned cryptocurrency in 2020. The US government is interested in knowing if this percentage has increased. The University of Chicago surveys 1,004 taxpayers and finds that 13% have used or owned crypto in the past year (2021)
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In the above example:
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- The *population* was *US taxpayers*
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- The *parameter* was *6%*
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- The *sample* was *1004 taxpayers*
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- The *statistic* was *13%*
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## Simple Random Samples
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Advantages:
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- Procedure is impartial
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- Law of Averages
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Disadvantages
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- Not always possible
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- Can be very expensive
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## Bias
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| Bias Type | Description |
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| ---- | ---- |
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| Selection | When the procedure that selects the sample is biased |
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| Non-Response | Those that don't respond to a survey may have different characteristics than those that do respond |
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