Question

Provide an example of population, parameter, sample, and census in a business research project. Why is it important to define the population clearly and precisely in a business research project?

the

Discussion do need to include substantive comments on promoting discussion. We do not only answering DQ, but also offering substantive comments and posing questions that can promote the discussion.

Here are some ideas how to do this:

Here is a list of examples of how you can participate in class:

1. Share a related experience.

2. Comment on others' experiences.

3. Ask others questions about their ideas/experiences.

4. Take an idea being discussed and offer a different perspective on it.

5. Describe an interesting idea from the week's reading and explain what insights you gained from it.

6. Ask the group a question about the week's reading, if there is something you would like more information on.

7. Disagree (respectfully, of course) with a point that someone else made.

8. Discuss a related work issue that you would like some feedback on.

9. Describe how you have applied the recent course concepts to your personal/professional life.

10. Share another resource you've used as you explored the course topics.

11. Add new elements to the question – places, times, circumstances, etc.

12. Continually ask Why, or Why not?

Answer 1

Let us say that the human resource department is trying to find out the average salary of people in a particular industry

A population would be all the employees working in that industry

A sample would be a part of the population which could have been selected randomly or could have been selected using stratified sampling methods

A parameter is somethin that represents the entire data

In our case the mean salay of the employee could serve as a parameter

Census is the complete data of all the data points

In our case if we go around and collect all the data from each and every employee working in the said industry we would be collecting the census data for that industry

It is very important to define population very clearly as it becomes one of the key factors for the study

For example in the above discussion if we had not selected a specific industry and wanted to know the average salary of all the people then we needed to collect data from all the people in the country

This in itself is a very time consuming process hence we need to be very specific as to what is the point of study and who are the targetted population for the study