NEOMARK TORRES SANTILLAN BS ACCOUNTANCY III

ISB 31C

1. What is the difference between a simple random sample and a systematic sample?
A simple random sample is a subset of a statistical population in which each member of
the subset has an equal probability of being chosen. It is a representation of a group or a
population. In simple random sampling, samples of a population are chosen in a random manner
and that the pool from which the sample is selected, each units have the same probability of being
selected. On the other hand, systematic sample is a type of probability in which samples are
selected from a pool or population in accordance with a random starting point but with a fixed,
periodic interval. This means that systematic sampling involves the selection of units from an
ordered population using skip or interval.
2. What is the difference between a simple random sample and a stratified sample?
A simple random sample is a representative of an entire population. Samples selected
using this method are selected without any category or criteria being used, hence, they are just
selected in a random manner. While stratified random sample on the other hand, there is now
certain criteria being used in selecting samples. This is done by first, dividing the population into
smaller groups or what we called strata based on something common to them (group in
accordance with certain common characteristics). In effect, this method will tend to ensure that
each member from each subgroup will have their own representative.
3. What is the difference between a stratified sample and a cluster sample?
Stratified random sample on the other hand, there is now certain criteria being used in
selecting samples. This is done by first, dividing the population into smaller groups or what we
called strata based on something common to them (group in accordance with certain common
characteristics). In effect, this method will tend to ensure that each member from each subgroup
will have their own representative. On the other hand, when cluster sampling, the sampling unit
is the whole cluster that instead of a certain unit will be studied, it is now the whole cluster or
group.
4. The fill amount of bottles of a soft drink is normally distributed, with a mean of 2.0 liters and a
standard deviation of 0.05 liter. If you select a random sample of 25 bottles, what is the probability
that the sample mean will be:
a. between 1.99 and 2.0 liters?
b. below 1.98 liters?

c. greater than 2.01 liters?

d. The probability is 99% that the sample mean amount of soft drink will be at least how much?

e. The probability is 99% that the sample mean amount of soft drink will be between which two
values (symmetrically distributed around the mean)?
5. A study involves selecting a random sample of 256 sales representatives under the age of 35. One
item of interest is their annual income. The sample mean is $55,420, and the sample standard
deviation is $2,050.

a. What is the estimated mean income of all middle managers (the population)? That is, what is
the point estimate?
b. What is the 95% confidence interval for the population mean (rounded to the nearest $10)?
c. What are the 95% confidence limits for the population mean?
d. What degree of confidence is being used?
e. Interpret the findings.