Learning Outcomes:-
- Solve problems using concepts on the continuous probability
- Select a representative sample when conducting a business survey research by applying theories of the sampling distribution of the sample means.
- Perform inferential statistics on real-life data using statistical estimation and hypothesis testing techniques.
- Survey research is a tool used by businesses to obtain feedback from their customers, suppliers One of the requirements to obtain good feedback from their respondents when conducting a survey is to select a representative sample for the survey.
For this assignment, you are the business personnel who is conducting a survey for your company to obtain an estimate on the population mean. Write a reflection on how the concepts and theorem taught in the topic “Sampling Distribution of the Sample Means” can facilitate your decision-making process in conducting the business survey research, such as choosing an appropriate sample size for the survey as well as other considerations, costs, and benefits. - Your reflection should provide discussion and explanation for the following areas:
- How do the concepts and theorem in the topic “Sampling Distribution of the Sample Means” influence your decision in choosing an appropriate sample size for the survey?
- Is a bigger sample better for the survey? Discuss the benefits of having a bigger sample for the survey with reference to the standard error. Any possible costs associated with a bigger sample selected? How do you decide on the sample size for your survey?
- Besides the knowledge gained in the topic, suggest any three measures that you can undertake to obtain good feedback from your respondents when conducting the survey. Be as innovative as possible and provide reasons and elaborations to support your suggestions.
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