# Sampling and Estimation

CFA level I / Quantitative Methods: Application / Sampling and Estimation

 Learning Outcome Statements 1. Simple random sampling and sampling distribution a. define simple random sampling and a sampling distribution; 2. Sampling error b. explain sampling error; 3. Simple random and stratified random sampling c. distinguish between simple random and stratified random sampling; 4. Time-series and cross-sectional data d. distinguish between time-series and cross-sectional data;; 5. Central limit theorem e. explain the central limit theorem and its importance; 6. Standard error of the sample mean f. calculate and interpret the standard error of the sample mean; 7. Desirable properties of an estimator g. identify and describe desirable properties of an estimator; 8. Point estimate and confidence interval estimate of a population parameter h. distinguish between a point estimate and a confidence interval estimate of a population parameter; 9. Student's t-distribution and its degrees of freedom i. describe properties of Student’s t-distribution and calculate and interpret its degrees of freedom; 10. Confidence interval for a population mean with a known and an unknown variance j. calculate and interpret a confidence interval for a population mean, given a normal distribution with 1) a known population variance, 2) an unknown population variance, or 3) an unknown variance and a large sample size; 11. Data-mining bias, sample selection bias, survivorship bias, look-ahead bias, and time-period bias k. describe the issues regarding selection of the appropriate sample size, data-mining bias, sample selection bias, survivorship bias, look-ahead bias, and time-period bias. Sampling and Estimation: Chapter Test 12 Questions, 18 Minutes

CFA Institute does not endorse, promote or warrant the accuracy or quality of products and services offered by Konvexity. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.