Define the Concept of "Sampling Error

question 49

Essay

Define the concept of "sampling error." Note: Your definition should include the concepts of sample,population,statistic,and parameter.​

---

Definitions:

Pure-Strategy Nash Equilibrium

A situation in game theory in which players select a single strategy that yields the best response given the strategies of all other players.

Mixed Strategies

A strategic decision in a game where players randomize over two or more available actions in order to keep opponents uncertain of their next move.

Expected Payoffs

The forecasted return on an investment or decision, taken as the weighted average of all possible outcomes, considering their probabilities.

Mixed Strategy Equilibrium

Mixed Strategy Equilibrium is a concept in game theory where each player in a game randomizes over possible moves according to a specific probability distribution, and no player can benefit by changing their strategy unilaterally.