Market Research (Sampling)

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Presentation transcript:

Market Research (Sampling)

Starter What is the average? Calculate the mean average of the forty countries' life expectancy rates, by taking a random sample of 10 countries. Calculate the mean average of the forty countries' life expectancy rates, by taking a representative sample of 10 countries.

Total Average from all countries is: The results? Which of your two methods gave the best estimate? How accurate was your sampling outcome and how much spread was there around the correct value? Total Average from all countries is: 63.4? Worldwide, the average life expectancy = 71.0 years FYI – the average is: 68.5 years for males 73.5 years for females