When Determining the Sample Size Needed to Achieve a Particular

question 125

Essay

When determining the sample size needed to achieve a particular error estimate you need to know σ. What are
two methods of estimating σ if σ is unknown?

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Definitions:

Risk Assessment

The identification, evaluation, and estimation of the levels of risks involved in a situation, followed by the coordination of resources to minimize, monitor, and control the probability or impact of unfortunate events.

Turnover Delineation

The process of defining and categorizing the turnover rates within a company or organization to understand how often assets or staff are being replaced.