BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
If the sample variance of a dataset of size 8 is 2.57, what is the population variance if considering the same dataset to be a population?
|
|
2.57
|
|
|
2.25
|
|
|
1.60
|
|
|
1.5
|
Explanation:
Detailed explanation-1: -When we calculate population variance, we divide by N (the population size). When we calculate sample variance, we divide by n-1 (the sample size – 1).
Detailed explanation-2: -If the population variance is 5, then the population standard deviation is = 25.
Detailed explanation-3: -The population variance and sample variance are the same value for the same set of data. False; the population variance and sample variance have different denominators in their formulas, so these values are almost always different.
There is 1 question to complete.