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Chapter 1: Q8. (page 49)
Explain how populations and samples differ?
The main difference between sample and population is that the sample is the subpart of a population.
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What is statistics?
Bank corporate mergers. Corporate merger is a means through which one firm (the bidder) acquires control of the assets of another firm (the target). Recently, there was a frenzy of bank mergers in the United States, as the banking industry consolidated into more efficient and more competitive units.
a. Construct a brief questionnaire (two or three questions) that could be used to query a sample of bank presidents concerning their opinions of why the industry is consolidating and whether it will consolidate further.
b. Describe the population about which inferences could be made from the results of the survey.
c. Discuss the pros and cons of sending the questionnaire to all bank presidents versus a sample of 200.
Accounting and Machiavellianism. Behavioral Research in Accounting (January 2008) published a study of Machiavellian traits in accountants. Machiavellian describes negative character traits that include manipulation, cunning, duplicity, deception, and bad faith. A questionnaire was administered to a random sample of 700 accounting alumni of a large southwestern university; however, due to nonresponse and incomplete answers, only 198 questionnaires could be analyzed. Several variables were measured, including age, gender, level of education, income, job satisfaction score, and Machiavellian (鈥淢ach鈥�) rating score. The research findings suggest that Machiavellian behavior is not required to achieve success in the accounting profession.
a. What is the population of interest to the researcher?
b. What type of data (quantitative or qualitative) is produced by each of the variables measured?
c. Identify the sample.
d. Identify the data-collection method used.
e. What inference was made by the researcher?
f. How might the nonresponses impact the inference?
Suppose that a production batch contains 1,000 units and you have to select 10 units for quality assurance. Use a random number generator to select a simple random sample of n = 10 from the production batch.
Define statistical thinking.
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