Question

In: Economics

Discuss the importance of having comparable populations underlying comparisons of experimental and non-experimental estimates.

Discuss the importance of having comparable populations underlying comparisons of experimental and non-experimental estimates.

Solutions

Expert Solution

Having comparable populations underlying comparisons of experimental and non-experimental estimates is important. This is because of the following reasons:

1) Acts as a validation check on the outcome of experimental and non-experimental estimates

2) Makes results robust, explanatory, reliable and acceptable

3) Helps determine the direction of cause and effect relationship

4) The researcher would have an idea of likely outcome of the experiment which would help in making a comparison of actual outcome with the possible outcome.

5) Helps in evaluation & analysis of all possible variables that would contribute to the desirable outcome

6) Helps in evaluation and finalization of the model used for prediction or forecasting

7) Helps charting out the explanatory variables and features in the order of their respective relative importance

8) Eventually would contribute to controlling costs in conducting experiments and puts a check on conducting any random experiment.


Related Solutions

What is the importance of choosing randomly and having a control group in an experimental model?
What is the importance of choosing randomly and having a control group in an experimental model?
Discuss the importance of having security policies in place.
Discuss the importance of having security policies in place.
Briefly explains the importance of experimental design in engineering. Discuss some examples for its application.
Briefly explains the importance of experimental design in engineering. Discuss some examples for its application.
Discuss the importance of budgets in enhancing the financial and non-financial performances of an organisation. Explain...
Discuss the importance of budgets in enhancing the financial and non-financial performances of an organisation. Explain how participative budgeting may assist the budgetary process in a decentralised organisation. Your discussion should include the role of budgets: ◦           in communicating and coordinating across the organisation;
Discuss the importance of budgets in enhancing the financial and non-financial performances of an organisation. Explain...
Discuss the importance of budgets in enhancing the financial and non-financial performances of an organisation. Explain how participative budgeting may assist the budgetary process in a decentralised organisation. Your discussion should include the role of budgets: ◦           in planning and control; ◦           in communicating and coordinating across the organisation; and ◦           in performance measurement of divisions and divisional managers.
Briefly discuss how one estimates the amount of wastewater in any given situation and its importance.
Briefly discuss how one estimates the amount of wastewater in any given situation and its importance.
Discuss why the perspectives of various non-White ethnic populations and racial groups within the U.S. e.g....
Discuss why the perspectives of various non-White ethnic populations and racial groups within the U.S. e.g. African Americans, Mexican Americans, Native Americans, Asian Americans, would differ from that of White, middle class Americans in regard to the pledge of allegiance? Explain why or why not.
Question: Highlight and discuss the importance of having budgets in an organization. (20 marks) Note: Answer...
Question: Highlight and discuss the importance of having budgets in an organization. Note: Answer should be around 2 pages. Explanation must be detailed and clear. Proper references must be included where appropriate. If you are not sure how to fulfill all the requirements needed, please do not attempt the question. Your help is very much appreciated. Thank you.
Discuss the importance of participation in leisure activities for work and non-work relations, include the benefits...
Discuss the importance of participation in leisure activities for work and non-work relations, include the benefits of participation in leisure activities for psychological well-being, life satisfaction and health?
Typically, non-profit organizations such as charities exist in two markets. Discuss the importance of location to...
Typically, non-profit organizations such as charities exist in two markets. Discuss the importance of location to a local or regional charity of your choice. In the context of a local/regional service provider, explain whether the distribution channels available to providers of physical goods are always practical to the selected service provider, and why. Whether the organization is non-profit or profit-orientated, channel conflict will arise. Discuss the causes of channel conflict as identified by Berman (1966), and explain how a not-for-profit...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT