Sampling Error
Subject: Business Statistics | Topics:

Sampling Error is an analysis performed by selecting by specific number of observations from a larger population. It is a statistical error that occurs when an analyst does not select a sample that represents the entire population of data and the results found in the sample do not represent the results that would be obtained from the entire population. Sampling Error is generally not feasible since the true population values are unknown; however, sampling error can often be estimated by probabilistic modeling of the sample. It is the difference between a sample statistic used to estimate a population parameter and the actual but unknown value of the parameter

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