what is Probability sampling and non-probability sampling

Q: what situation does observation method fits in gathering data?

A: The research methodology describes the process that is taken up by the researcher to examine the…

Q: What assumptions do qualitative forecasting systems make ?

A: Forecasting: It is a technique which uses the data from the previous period as an input to make…

Q: please explain the following random sampling methods along with giving examples for each in a…

A: Sampling is a method of choosing individual members of a certain population sample or sample set to…

Q: puterised statistical processe

A: Traditionally producers have well-known that each product has to have tolerance limits due to the…

Q: Develop Desicion tree

A: Size of the first station Good market Fair market Poor market Small 50000 20000 -10000 Medium…

Q: What is meant by the term decision analysis?

A: The decision is the aspect in the context of management that deals with selecting or choosing an…

Q: explain how alternative method of sampling used in the process of gathering data to support decision…

A: Sampling is a way of deciding the option available to the company to collect data from different…

Q: What are some of the differences between a descriptive model and a prescriptive model?

A: A model is described as a representation of reality abstractly, and it uses predictive power and…

Q: Define statistical database.

A: Statistical research is used extensively in organizations so that past performance can be used to…

Q: Can you describe when is it accurate to use systematic sampling or when is it not? Provide an…

A: Systematic sampling is a probability sampling method in which the researchers select members of the…

Q: What are similarities of Interrupted Time Series and Regression Discontinuity? What are some…

A: Statistical analysis is done by gathering and interpreting data so that it can help to discover…

Q: Stratified random sampling is a method of sampling that involves the division of a population into…

A: True

Q: Define the following: Open – ended questions Closed questions Qualitative observational tests

A: Questions are anything asked by a person seeking a response from another. It may be a query, doubt…

Q: Explain what is meant by the term decision tree ?

A: The decision making process can be defined as a business process in which the professionals try to…

Q: What are the various Assumptions of Distributed Lag regression Model? Explain in detail?

A: The method of polynomial distributed lags can be used with cubic or even higher-order polynomials as…

Q: What is sampling?

A: The sample is the group of people who will participate in the study. To draw valid conclusions from…

Q: Write examples of different types of probability and non-probability sampling? Give practical…

A: Definition of Probability Sampling:- In statistics, probability sampling refers to the sampling…

Q: Describe the common sampling schemes?

A: The common types of sampling schemes are as follows: Simple random sampling: This is utilized, when…

Q: state merits and demerits in collecting data of a questionnaires. Describe main aspects of a…

A: Data collection refers to the process of collecting information for use in research and…

Q: Differentiate between Regression and Correlation Analysis?

A: The differences between correlation analysis and regression analysis is given below: Correlation…

Q: What is the benefit of using strategic alignment model (SAM ) in studies??

A: Strategic alignment can be characterized as the art and science of defining, coordinating, and…

Q: What is the first-order smoothing and trend adjusted smoothing?

A: Smoothing data is the term which described as the one that removes the variation as well as states…

Q: What are some of the key distinctions between a descriptive model and a prescriptive model?

A: Marketing research give the advantage to business to know more about the market or industry in which…

Q: What is meant by the term scrutinize?

A: In business there are various activities to be carried out to create the final value. This final…

Q: Talk about Judgmental forecasts?

A: Judgmental forecasting is the forecasting process carried when there is a complete lack of any…

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.