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AUTHOR: CA VENKAT SHESHAN
Quantitative Analysis
Introduction to Statistics and its Relationship with Risk Management
Population
It refers to the Collection of all elements that comprises the entire universe possessing common characteristics.
A population to be studied or measured. Measures generated reflect the behavior of the population.
Examples
Examples
You can use different Statistical Surveys to measure related but different universes.
Sometimes, it’s not practical or it is impossible to measure the entire population.
In such cases, Sampling is an option.
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