Sampling and Inference Risk

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Why is there always a risk of an inference about a population being incorrect when based on the knowledge of a limited sample?

Due to the limited number of cells examined and the possibility of all items in the sample being unsatisfactory.

What is the rescue in situations where there is a risk of incorrect inference based on a limited sample?

Evaluating such risks using statistics.

Why is it important to understand probability and probability distributions in statistics?

To equip ourselves with methods of drawing statistical inferences and estimating the reliability of these inferences.

What does the scope of statistics include besides descriptive and inferential branches?

Methods of dealing with issues of specific nature, which are essentially descriptive in nature. Signup and view all the answers

What is the primary purpose of inferential statistics?

Drawing inferences about the entire population based on sample information Signup and view all the answers

Explain why it is important to use inferential statistics in situations like estimating the average body weight of all college students in a city.

To evaluate risks involved in generalizing from incomplete sample data to the entire population Signup and view all the answers

Why would one need to repeat the exercise of estimating average body weight for college students in a future year?

To compare and determine if there have been significant changes in body weight over time Signup and view all the answers

How can inferential statistics be used in deciding whether a given lot of battery cells is good enough to buy?

By inspecting a sample from the lot to make generalizations about the entire lot Signup and view all the answers

What risks are involved in drawing inferences about an unknown population based on sample information?

The risk of making incorrect generalizations or conclusions about the population Signup and view all the answers

Explain the need for hypothesis testing in inferential statistics.

To assess the validity of assumptions made about the population based on sample data Signup and view all the answers

What are some possible causes of deficiency in achieving sales targets?

i) targets were too high and unrealistic (ii) salesmen's performance has been poor (iii) emergence of increase in competition (iv) poor quality of company's product Signup and view all the answers

How can statistical methods be used in personnel management?

Statistical methods can be used for fixation of wage rates, incentive norms, performance appraisal, and productivity measurement. Signup and view all the answers

What is the relevance of productivity in personnel management?

Productivity is important for determining productivity bonuses for workers and comparing wages with productivity levels. Signup and view all the answers

How can statistical methods help in ascertaining the efficacy of a new medicine?

Statistical methods can be used to conduct experiments involving groups of patients to compare the effectiveness of the new medicine with existing treatments. Signup and view all the answers

What is the purpose of maintaining records for two comparable groups in a medicine effectiveness study?

The purpose is to compare the outcomes of patients treated with the new medicine against those treated with existing medicines to assess effectiveness. Signup and view all the answers

In the context of personnel management, why are comparisons of wages and productivity important?

Comparisons are important to ensure increases in industrial productivity by assessing the correlation between wages and productivity levels. Signup and view all the answers

Sampling and Inference Risk

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