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Charles makes $24,000 a year. Ana makes $40,000 a year. Ellis makes $75,000 a year. Adam makes $75,000 a year. Shonali makes $30,000 a year. Which of the following is not a true statement about the usual correlation between pay and job satisfaction?
Volume
The amount of data generated.
Point Estimate
A single value estimate or guess of a population parameter based on sample data.
Sampling Error
The difference between the population parameter and the sample statistic due to chance variation in selecting a sample.
Nonsampling Error
Errors not related to the act of selecting a sample from the population but can occur during data collection, recording, or analysis stages.
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