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Data analysis plays an important role in business making decisions. In many situations, we want to...

Data analysis plays an important role in business making decisions. In many situations, we want to make inferences that are based on statistics calculated from sample data to estimate the values of population parameters.   For example, a pollster may be in interested in the sample results as a way of estimating the actual proportion of votes that each candidate will receive from a population of voters. In a business setting, do you think it is important to understand the population in which your samples are drawn? If so, why or why not? Are there situations where you feel that sample data is not a true representation of the population?

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orchestra answered 2 years ago
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