Business Essay examples - 995 Words

Business Statistics SCMA 1000 Winter 2015 Section 2 Assignment 1 Due Tuesday February 25, 2015 Sampling exercise The purpose of this exercise is to convey some basic concepts in regards to sampling while at the same time deriving sampling distributions empirically. Deriving sampling distributions empirically works best when there are a large number of samples. The idea here is that each student in the class will create 20 samples for two populations, using two different sampling procedures, for a total of 80 samples. These samples will be combined into common datasets which will be used in class (and made available to all students in the class. The four sampling contexts will be: 1. Discrete numerical population, sampling†¦show more content†¦Sampling context 1: Discrete numerical population, sampling without replacement The population The population is comprised of 10 elements, with values from 1 to 10. It a discrete variable in that the variable can only take on integer values. Also it is a uniform distribution in that each value appears once in the population. Below is a graphical representation of the population: Sampling procedure The kinds of samples we are going to generate are called simple random samples but sampling will be done without replacement. Sampling without replacement means that an element is no longer available for selection once it has been selected. In other words, the element is not replaced once selected. The sample size will be 5. Cut out 10 cardboard squares measuring 3 cm x 3 cm Number the squares from 1 through 10. Place cardboard squares in a container. Randomly select 5 squares without replacing the squares (You should have 5 squares in front of you.) Record the numbers on the 5 squares (these are called your observed values) in columns D to H of the spreadsheet. Do this 20 times. For these 20 rows (samples), ‘DNWITHOUT’ should appear in Column C. Sampling context 2: Discrete numerical population, sampling with replacement The population Same population as above. Sampling procedure The kinds of samples we are going to generate are called simple random samples butShow MoreRelatedBusiness Analysis : Business And Business2361 Words   |  10 PagesEach business has products or services they want to sell to consumers, whether this is the man on the street or a multi-nation organisation, the difference in which person they targets will depend on what the product or service the organisation is offering Business to Business Business to business markets is, for example where to company engage in a transaction of a product or service, this could be a waste management company removing waste from a warehouse that produce a vast amount of waste. AnotherRead MoreBusiness Plan For A Business840 Words   |  4 Pagesâ€Å"Business plans are statement of a business goals, reason they are attainable and plans on meeting it’ (FoxBuisness, 2013). 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