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Business Management Statistics Exam 2024

This document outlines the mid-exam for the Statistics for Management-II course at Furra College for 2nd year Business Management students, scheduled for June 2024. It consists of multiple parts including true/false statements, multiple-choice questions, matching exercises, and a discussion question about the fundamental reason for sampling. The exam is designed to assess students' understanding of statistical concepts and sampling methods.

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0% found this document useful (0 votes)
41 views2 pages

Business Management Statistics Exam 2024

This document outlines the mid-exam for the Statistics for Management-II course at Furra College for 2nd year Business Management students, scheduled for June 2024. It consists of multiple parts including true/false statements, multiple-choice questions, matching exercises, and a discussion question about the fundamental reason for sampling. The exam is designed to assess students' understanding of statistical concepts and sampling methods.

Uploaded by

Gizaw Belay
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Furra College

Department of Business Management


Statistics for Management-II mid exam for 2ndyear Business management
students, June, 2024G.C
Time
allott
Name: ________________________________ ID No ___________ Section __________ ed:
40
Minu
Part I. Say True if statement is correct and False if statement is incorrect (1.5 pts each)
tes
Total
1. Statistics is the science of making general conclusion about the entire group based on information obtained
marks:
from a small group. 30 Pts

2. More often investigators prefer sampling to census especially when the population size is very large.
3. In Non-probability Sampling Methods each item or person in the population being studied has a known
nonzero likelihood of being included in the sample.
4. In non-proportionate sample, equal representation is given to all the sub-strata regardless of their existence in
the population.
5. Where a situation of including the whole elements of the population under the investigation may not be
possible census approach is the most preferable.
6. With non- random sampling, the investigator plays no part in the selection of respondents.
7. The standard deviation of the sample means will be smaller than the standard deviation of the population.

Part II: Choose the best answer from the given alternatives. (1.5 pts each)

8. Which one of the following is not the type of non-probability sampling methods?
A) Cluster Sampling B) Purposive sampling C) Convenience sampling D) Quota sampling
9. Sampling distributions describe the distributions of;
A) Parameters B) Statistics C) Both Parameters and Statistics D) Neither parameters nor statistics
10. Non-sampling error is related with which one of the following factor?
A) Incorrect enumeration of population members. C) Use of faulty questionnaire for data collection.
B) Non random selection of samples. D) All of the above
11. From the following sampling techniques, which one is different from the others?
A) Stratified sampling B) Systematic sampling C) Judgment sampling D) Simple random sampling
12. The number of possible samples of size n out of N population size in simple random sampling without
replacement is equal to:
N
A) Cn B) Nn C) (N-n)/N D) n/N
Part III: Match Column ‘A’ with column ‘B’ (1.5 pts. each)

“B”
“A”
A. Every member of the population has an equal and independent chance
13. Population of being selected.
14. Sample B. The difference between a sample statistics and the population
15. Census parameter.
16. Sampling error C. An approach by which every element of the population will be
17. Simple Random Sampling included under the investigation.
D. Part of the totality, which is used to make the judgment.
E. The totality about which judgment is to be made.

Part IV: Discussion Question (5 Marks)

1. Briefly explain the fundamental reason for sampling.

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Common questions

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An investigator might choose purposive sampling when there is a specific need to include particular types of participants who possess certain traits or characteristics critical to the study. This method allows the researcher to select cases that are most informative, facilitating in-depth exploration of the specific phenomenon from a specialized segment of the population .

Cluster sampling involves dividing the population into clusters and then randomly selecting entire clusters for study, commonly used when the population is geographically dispersed. In contrast, convenience sampling involves selecting individuals that are easiest to access and is more prone to bias, making it less reliable for drawing conclusions about the population. Cluster sampling, though more complex, generally provides more representative data than convenience sampling, which does not require random selection .

Using a census may not be preferable in situations where including the entire population under investigation is impractical, such as when the population is too large, scattered over a wide geographical area, or when time and resources are limited. In such cases, a sampling approach is more feasible and efficient .

Non-proportionate sampling might be chosen when equal representation for each sub-strata is desired, regardless of their actual presence in the population. This can help ensure that each group's perspective is considered equally, which might be important in studies focused on understanding diverse viewpoints or where the sub-groups are of equal interest to the investigation .

Non-sampling errors could significantly impact research outcomes when incorrect enumeration of the population, faulty questionnaires, and non-random selection of samples are present. These errors can lead to biases and inaccuracies in the data collected, affecting the validity and reliability of the research findings, often resulting from methodological flaws rather than sampling technique .

Sampling error represents the difference between a sample statistic and the actual population parameter, implying that the sample may not perfectly represent the population. This can limit the generalizability of the research findings and necessitate using confidence intervals and significance testing to estimate the precision of the sample statistic as a measure of the population parameter .

Ensuring each member of the population has an equal and independent chance of being selected in simple random sampling is crucial for eliminating selection bias, thereby increasing the representativeness and fairness of the sample. This technique maximizes the probability that the sample accurately reflects the population, enhancing the validity and reliability of the conclusions drawn from the research .

Sampling is often preferred over a census, especially when the population size is very large, because it is more practical and economical. Conducting a census of an entire large population can be time-consuming and expensive, whereas sampling allows researchers to make general conclusions about the entire group by examining a smaller, manageable subset .

The standard deviation of the sample means being smaller than that of the population is significant as it reflects the concept of the Central Limit Theorem, which states that the distribution of the sample means will approximate a normal distribution with a smaller spread as the sample size increases. This property helps in estimating population parameters more precisely and reduces variability in predictions based on sample data .

In non-random sampling, the selection of respondents is guided rather than left to chance, often based on researchers’ judgments or specific criteria, meaning the investigator decides who is included. This contrasts with random sampling methods, where each member of the population has an equal and independent chance of being chosen, relying more on chance than researcher intervention .

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