Get Started with ixamBee
Start learning 50% faster. Sign in now
The optimal sample size is determined using statistical formulas that balance the desired margin of error (the degree to which the sample's estimate can differ from the true population value) and the confidence level (the likelihood that the sample's results reflect the population's characteristics). These calculations ensure that the sample size is large enough to be statistically significant, but not unnecessarily large, which could waste resources. Factors such as the population size, variability within the population, and the desired precision of the results all play a role in determining the sample size. Why Other Options Are Incorrect: • A: Convenience-based sampling can introduce bias and does not ensure a representative sample. • C: Trial and error is an inefficient approach and does not guarantee statistical significance. • D: Collecting an unnecessarily large sample may increase costs and time without improving accuracy. • E: A fixed percentage of the population is not an appropriate method for determining sample size. The size must be calculated based on statistical principles.
What is the primary purpose of data cleaning in the data analysis process?
A retailer wants to segment its customers to optimize targeted marketing campaigns. Which of the following approaches would be most effective for custom...
Which condition must be satisfied for Kruskal’s Algorithm to function correctly?
Why is Exploratory Data Analysis (EDA) considered a crucial step in the data analysis process?
Which of the following factors is most crucial when determining the appropriate sample size for a data analysis study?
When performing time series decomposition , which method separates data into additive components?
Which natural language processing (NLP) technique is best suited for understanding the contextual meaning of words in a sentence?
A logistics company wants to reduce delivery delays using predictive analysis. What should they focus on?
Which sampling technique is most appropriate when the population is naturally divided into groups that differ significantly from each other?
A database holding sensitive customer data is compromised, and attackers exfiltrate data without altering it. Which principle of the CIA triad has been ...
