Sampling Distributions

Why do this?

Let us say we want to sell a Mercedes Benz, but we don't know the price we should sell it at.

In the real world, we cannot afford to collect pricing data from the whole world (i.e. it is unrealistic to get the population statistics) just because we want to have a very accurate with the car price. Simply, the cost

Instead, we do the realistic approach of looking at a few (i.e. a sample).

Example

To be detailed soon.

References

• Sampling Distribution by Investopedia