In the application of statistical techniques to the estimation of dollar amounts, a preliminary sample is usually taken primarily for the purpose of estimating the population:
A) mode.
B) range.
C) median.
D) variability.

Question

Quizplus · Accepted Answer

The preliminary sample is usually taken to estimate the population variability. This is because variability is an important measure of the spread of the data and is necessary to make accurate estimates of population parameters such as the mean and standard deviation. The mode, range, and median are measures of central tendency and do not provide information about variability.

In the Application of Statistical Techniques to the Estimation of Dollar