Reading 10: Sampling and Estimation

LOS a: Define simple random sampling, sampling error, and a sampling distribution, and interpret sampling error.

1.From the entire population of McDonald’s franchises, an analyst constructs a sample of the monthly sales volume for 20 randomly selected franchises. She calculates the mean sales volume for those 20 franchises to be $400,000. The sampling distribution of the mean is the probability distribution of the:

A)   mean monthly sales volume.

B)   monthly sales volume for all McDonald’s franchises.

C)   mean monthly sales volume estimates from all possible samples of 20 observations.

D)   mean monthly sales volume estimates from all possible samples.

The correct answer was C)

The sampling distribution of a sample statistic is a probability distribution made up of all possible sample statistics computed from samples of the same size randomly drawn from the same population, along with their associated probabilities.

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