Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requesting clarification and steps for the following question. Question 1: Suppose that you want to randomly draw 20 observations in the range between 100 and

Requesting clarification and steps for the following question.

Question 1: Suppose that you want to randomly draw 20 observations in the range between 100 and 1000. You plan to use Excel to generate this sample.

1. What is the Excel formula/syntax you need to generate this sample?

2. If now, instead of randomly drawing 20 observations between 100 and 1000, you decided to first divide the range (100,1000) into 10 mutually exclusive & collectively exhaustive groups, then randomly draw/generate 2 observations from each of the 10 groups, what is the sampling method?

What's the advantage of this method compared with the method in part i?

3. If now, you decided to first divide the range (100,1000) into 10 mutually exclusive & collectively exhaustive groups, then randomly select 5 groups and then draw/generate 4 observations from each of the 5 groups, what is the sampling method?

What's the advantage/disadvantage of this method compared with the method in part ii?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus

Authors: Dale Varberg, Edwin J. Purcell, Steven E. Rigdon

9th edition

131429248, 978-0131429246

More Books

Students also viewed these Mathematics questions