Sampling Distributions and Confidence Intervals
· Show research on the matter that is properly cited and referenced according to APA with references
· Create a substantive message would include a personal or professional experience as it relates to the particular theory, please provide examples. Word count of each substantive participation 100-150 words of each one of the following subjects:
Provide example of the Central Limit Theorem
Analyze how sampling distributions for sample means are used to make managerial decisions (Example).
Provide example Contrast normal distributions with sampling distributions
Provide example of confidence intervals (Examples)
Analyze how to estimate mean and proportion (Examples)
Evaluate how the estimates can be used to make management decisions (examples).
Scenario – Assume you have a large family of 500 or more and you want to see if they were satisfied with the last family reunion. Is it possible to take a census of every family member or should a sample be taken? If a sample is taken, what type of sampling technique would gain the most valid information? Explain why. Refer to Chapter 7 to assist you in responding to this scenario.
How you can provide point and confidence interval estimates in personal and professional settings (Example).
Scenario – “The four basic random sampling techniques are simple random sampling, stratified random sampling, systematic random sampling, and cluster (or area) random sampling. Each technique offers advantages and disadvantages. Some techniques are simpler to use, some are less costly, and others show greater potential for reducing sampling error” (Black, 2017, pg. 205). Compare and Contrast the four sampling techniques. Give an example of how one of the techniques can be used in the decision-making process in your workplace. Refer to Chapter 7 to assist you in responding to this scenario.