Explanation An annual list of major stock funds contains 1,699 funds. The investigator wishes to estimate the 10-year percent return. Random sampling: Random sampling is defined as a method of sampling conducted by using a random or chance procedure, that is, the methods of probability, in order to ensure a representative sample. Simple random sampling: Simple random sampling is defined as a method of sampling in which, a sample of size n is drawn from a population of size N by using a random method, such as a random number table or software such as EXCEL, MINITAB, etc. to ensure that each of the N population units has the same probability of being selected in each draw. The simple random sampling gives a sample that is representative of the population. The 1,699 stock funds listed are all major stock funds. Out of these, 20 are to be selected. Now, all the stock funds in the list being major funds, it is natural for the investigator to want to choose the 20 funds in such a way that the sample is a good representative of the population. The method of simple random sampling gives a sample that is representative of the population. As a result, the estimate of the 10-year percent return from the sample would reflect the 10-year percent return of all the 1,699 stock funds. Moreover, assume that the investigator wishes to select 20 unique stock funds and does not wish the same fund to be repeatedly represented in the sample. Hence, simple random sampling without replacement is used. As a result, a method recommended to get a sample of 20 stock funds in order to estimate the 10-year percent return is simple random sampling without replacement...

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Chapter 2, Problem 50CE

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Chapter 2, Problem 49CE

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APPLIED STATISTICS IN BUSINESS AND ECO

Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - (a) Give three original examples of discrete data,...Ch. 2.1 - Which type of data (cross-sectional or time...Ch. 2.1 - Which type of data (cross-sectional or time...Ch. 2.1 - Prob. 7SE Ch. 2.1 - Give an original example of a time series variable...Ch. 2.2 - Which measurement level (nominal, ordinal,...Ch. 2.2 - Which measurement level (nominal, ordinal,...

Ch. 2.2 - Which measurement level (nominal, ordinal,...Ch. 2.2 - Which measurement level (nominal, ordinal,...Ch. 2.2 - Vail Resorts uses various types of scales and...Ch. 2.2 - (a) Would the measurement level for the data...Ch. 2.3 - Would you use a sample or a census to measure each...Ch. 2.3 - Would you use a sample or a census to measure each...Ch. 2.3 - The target population is all stocks in the SP 500...Ch. 2.4 - The target population is all students in your...Ch. 2.4 - Prob. 19SE Ch. 2.4 - Suppose you want to study the number of e-mail...Ch. 2.4 - In Excel, type a list containing names for 10 of...Ch. 2.6 - What sources of error might you encounter if you...Ch. 2.6 - What kind of survey (mail, telephone, interview,...Ch. 2.6 - What kind of survey (mail, telephone, interview,...Ch. 2.6 - Prob. 27SE Ch. 2.6 - What problems are evident in the wording of these...Ch. 2 - Define (a) data, (b) data set (c) observation, and...Ch. 2 - How do business data differ from scientific...Ch. 2 - Distinguish (a) univariate, bivariate, and...Ch. 2 - Define the four measurement levels and give an...Ch. 2 - Prob. 5CR Ch. 2 - (a) List three reasons why a census might be...Ch. 2 - Prob. 7CR Ch. 2 - (a) List four methods of random sampling. (b) List...Ch. 2 - List five (a) steps in a survey, (b) issues in...Ch. 2 - Prob. 10CR Ch. 2 - Prob. 29CE Ch. 2 - Prob. 30CE Ch. 2 - Prob. 31CE Ch. 2 - Which measurement level (nominal, ordinal,...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Prob. 36CE Ch. 2 - Identify the following data as either time series...Ch. 2 - Would you use a sample or a census to measure each...Ch. 2 - Would you use a sample or census to measure each...Ch. 2 - Is each of the following a parameter or a...Ch. 2 - Prob. 41CE Ch. 2 - Prob. 42CE Ch. 2 - Prob. 43CE Ch. 2 - Prob. 44CE Ch. 2 - The IRS estimates that the average taxpayer spent...Ch. 2 - The General Accounting Office conducted random...Ch. 2 - Arsenic (a naturally occurring, poisonous metal)...Ch. 2 - Prob. 48CE Ch. 2 - Would you expect Noodles Company to use a sample...Ch. 2 - Prob. 50CE Ch. 2 - Examine each of the following statistics. Which...Ch. 2 - The National Claims History (NCH) contains records...Ch. 2 - Prior to starting a recycling program, a city...Ch. 2 - A university wanted to survey alumni about their...Ch. 2 - To protect baby scallops and ensure the survival...Ch. 2 - Prob. 56CE Ch. 2 - Households can sign up for a telemarketing no-call...Ch. 2 - What level of measurement (nominal, ordinal,...Ch. 2 - Insurance companies are rated by several rating...Ch. 2 - A tabletop survey by a restaurant asked the...Ch. 2 - Give two original examples of (a) discrete data...Ch. 2 - Prob. 64CE Ch. 2 - Below are 64 names of employees at NilCo. Colors...Ch. 2 - From the display below, pick five cards (without...Ch. 2 - Prob. 69CE Ch. 2 - You can test Excels algorithm for selecting random...

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