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Sampling is used in data analysis primarily to make the data collection process more manageable, especially when dealing with large datasets. Collecting data from an entire population can be expensive, time-consuming, and complex. Sampling allows analysts to select a subset of the population that represents the whole. By carefully choosing a sample that reflects the diversity and characteristics of the population, analysts can make accurate inferences without the need for complete data collection. Proper sampling techniques help reduce the complexity of data analysis while maintaining its reliability and validity. Why Other Options Are Incorrect: • A: Collecting all possible data points (census) is not always practical or necessary. Sampling provides a good approximation without needing to collect every data point. • C: Sampling still requires statistical testing to ensure that the sample is representative and that conclusions are valid. • D: A sample cannot guarantee 100% accuracy, but it can provide insights that are statistically significant. • E: Sampling does not inherently exclude irrelevant data; it focuses on a representative subset of the data.
The Marginal Standing Facility (MSF) rate is linked to which of the following rates?
_______ has got approval for the complete acquisition of Ohm Global Mobility Private (OHM) from OHM International Mobility for a nominal consideration...
Which organization is primarily responsible for ensuring financial inclusion in India?
Which financial instrument provides the right, but not the obligation, to buy or sell an asset at a specified price?
Which act governs the regulation and supervision of NonBanking Financial Companies (NBFCs) in India?
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ______ per financial year.
USSR was disintegrated in the period ______?
Which of the following banks continue to be identified by Reserve Bank of India as Domestic-Systemically important Banks?
The Rupee's _______ against a basket of currencies has increased, indicating that the Rupee has strengthened against major trading partners.
Which of the following instruments is considered an alternative to cash in the Indian payment system?