Sampling and Probability Flashcards
what is probability?
chance/likelihood of an event occurring
what is the range of values in a probability statement?
between 0 and 1
what is gambler’s fallacy?
belief that if you keep playing, you’ll win
why is gambler’s fallacy false?
chances of winning are the same every time you play
what is the law of large numbers?
if enough people play for a long amount of time, the house (casino) will always win
in calculating birthdays and probability, why does the pairs concept apply?
there are more pairs of people than individuals
what is a population?
entire set of units of analysis
what is a sample?
a subset of the population
what is a statistic?
characteristic of a sample
what is a parameter?
characteristic of a population that always stays the same(realistically unknown)
what should the statistic always mirror as close as possible?
the parameter
what does difference between a statistic and the parameter mean?
error
what are the 3 main challenges in sampling?
- defining the population
- selecting the sample design
- deciding upon sample size
what are the categories of sample design?
probability vs. non-probability
what is probability theory?
everyone has an equal chance of selection for the sample