What are sampling distributions? How do they assist in marketing?© BrainMass Inc. brainmass.com September 19, 2018, 2:59 pm ad1c9bdddf - https://brainmass.com/statistics/sampling-distribution/definition-of-sampling-distributions-and-relation-to-marketing-86679
The sampling distribution describes probabilities associated with a statistic when a random sample is drawn from a population. Derivation of the sampling distribution is the first step in calculating a confidence interval or carrying out a hypothesis test for a parameter.
This is necessary for marketing because research is usually done in order to make decisions. It is impossible to poll everyone who would use a particular product. It would be very expensive, very time consuming and a waste of time. Therefore, marketers would poll only a smaller sample from the ...
The solution provides an explanation of sampling distributions and their relationship to marketing.