Therefore, we will explore both population and sample formulas, as they are both used. Statisticians have solved the problem by adjusting the algebraic formulas for many statistics to reflect this issue. Moreover, if we extract 10 different samples from the same population, we will get 10 different measures. When we take a sample of this population and compute a sample statistic, it is interpreted as an approximation of the population parameter. When we have the whole population, each data point is known so you are 100% sure of the measures we are calculating. ![]() ![]() In the field of statistics, we typically use different formulas when working with population data and sample data. There are many ways to quantify variability, however, here we will focus on the most common ones: variance, standard deviation, and coefficient of variation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |