Using key terms, create a scenario where you can find a population, a sample, the parameter,...

Using key terms, create a scenario where you can find a population, a sample, the parameter, the statistic, a variable, and data. Post your scenario and provide a detailed description using the key terms. After reviewing the information, what did you learn about your target population?

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Let us consider a scenario where Govt. wants to calculate Per Capita Income of the country. Here, the people of the country can be considered as Population. To need to calculate Per Capita Income, we need to collect data. So, we take a sample because it is very difficult to collect the income of every individual in the country. To collect the sample, we may divide a country (population) into different regions (sub-population) where we can easily take a random sample from the population. Since we want to estimate Per Capita Income of country. So, Per_Capita_Income is a parameter where the average income of people based on the sample can be treated as a statistic.

We should collect data like age_of _person, their occupations, their annual income, extra. These are the variable needed to obtain the objective.

Since we know that every person in a country can't be treated as treated under the category of employment. So, our target population should be the person of age group between 16-60 since in a country Labour Force can be defined for the age group 16-60.

orchestra answered 1 year ago

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