In a short essay, list and discuss at least four statistical concepts used in sample size determination
What will be an ideal response?
a. Parameter - a summary description of a fixed characteristic or measure of the target population. A parameter denotes the true value that would be obtained if a census, rather than a sample, were undertaken.
b. Statistic - a summary description of a characteristic or measure of the sample. The sample statistic is used as an estimate of the population parameter.
c. Precision level - when estimating a population parameter by using a sample statistic, the precision level is the desired size of the estimating interval. This is the maximum permissible difference between the sample statistic and the population parameter.
d. Confidence interval - the range into which the true population parameter will fall, assuming a given level of confidence.
e. Confidence level - the probability that a confidence interval will include the population parameter.
f. Random sampling error - the error that results when the particular sample selected is an imperfect representation of the population of interest.
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What will be an ideal response?