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TRADE-OFF STUDY SAMPLE SIZE: HOW LOW CAN WE GO?Table 2.
Sample Bias Study 2To extend the concept further, a random sample of 200 was generated, a second sample of 100 was created where each member of the second sample was equal to a member of the first sample and a third sample of a random 100 was generated, independent of the first two. For each of the three samples, the mean was calculated. This process was replicated 13 times and the mean data are reported below (Table 3). The absolute difference (MAE) between the first two data sets is 0.147308 and the absolute difference between the first and third data sets is 0.218077. By dividing the MAE for the first two data sets by the finite population correction factor (sqrt(1-n/N)), the MAEs become quite similar. MACRO CONSULTING |