Examlex
The defence of due diligence
Point Estimate
A single value (or point) derived from a sample that is used to estimate a population parameter.
Sample Mean
The average value calculated from a sample of data, representing the central tendency.
Population Mean
The average value of all the data points in a population, representing the central tendency of the dataset.
Stratified Sampling
A sampling method that divides the population into smaller groups, or strata, based on shared attributes or characteristics before sampling to ensure a more representative sample.
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