Question
What is the difference between samples and populations
in data analysis?Solution
In statistics, a population refers to the entire group from which data could potentially be collected, while a sample is a smaller subset of that population. Populations can be finite or infinite and include every possible data point relevant to the analysis. Samples are used because collecting data from an entire population is often impractical or costly. By taking a sample, analysts can infer characteristics of the entire population using statistical techniques. A well-chosen sample should be representative of the population, allowing for generalizations and conclusions to be drawn. Option A (A population is a subset of the sample data) is incorrect because the population encompasses all data points, while the sample is a smaller subset. Option B (Samples always contain data points, while populations may not) is incorrect because both samples and populations contain data points—populations just contain more. Option D (A sample is always larger than the population) is incorrect because samples are always smaller than the population. Option E (Samples are typically used in descriptive analysis, while populations are used in inferential analysis) is incorrect because samples are primarily used in inferential statistics to make generalizations about the population, not for descriptive analysis.
A man invests ₹50,000 in a scheme offering compound interest at 10% per annum, compounded annually. He withdraws ₹25,000 after 2 years. If he lets t...
A man borrowed ₹10,000 at an interest rate of 12% per annum compounded annually. He repaid ₹4,000 at the end of the first year. What amount should h...
Find the compound interest on Rs. 10,000 at 10% per annum for 2 years, compounded annually.
A sum of ₹10000 is invested at compound interest for 2 years. If the interest rate is 5% per annum, what is the total amount after 2 years?
A sum becomes Rs. 9680 in 2 years at compound interest compounded annually at 10% per annum. Find the principal.
Mr. Kalra borrowed ₹1,55,000 to meet the expenses of his son's education. If the rate of interest is 12% per annum compounded annually, then how much ...
CI (compounded yearly) exceeds SI on a sum for 2 years at 8% p.a. by Rs. 160. Find the sum.
A sum of money amounts to ₹12,960 in 2 years at compound interest. If the rate of interest is 10% per annum, what is the principal amount?
Investing Rs. (4z + 400) at 20% p.a. compound interest for 3 years yields an interest of Rs. (5z - 800). Find the value of ‘z’.(Can calculate approx...
Divide Rs. 2,440 into two parts such that the first part after 10 years is equal to the second part after 8 years, compound interest being 20% per annum...