yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Worked example identifying sample study


2m read
·Nov 11, 2024

Let's look, let's take a look at some statistical studies and see if we can figure out what type they are. So this first one, Roy's toys received a shipment of 100,000 rubber duckies from the factory. The factory couldn't promise that all rubber duckies are in perfect form, but they promised that the percentage of defective toys won't exceed 5%. Let me underline that: they promise that the percentage of defective toys won't exceed 5%.

Roy wanted to get an estimation of the percentage of defective toys, and since he couldn't go over the hire 100,000 duckies, he took a random sample of 10 duckies. He found that 10% of them were defective. So what's going on here? Roy gets a shipment; there's 100,000 ducks in the shipment. He wants to figure out what percentage of them are defective. He can't look at all 100,000 ducks; it's not practical. So he samples 10 of them: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, and he finds that one out of those 10 are defective—10% of the 10.

So first of all, this is clearly a sample study. This is a sample study. How do we know that? Well, he is taking a sample from a broader population in order to estimate a parameter. The parameter is the percentage of those 100,000 duckies that are actually defective.

Now the next question is: what kind of conclusion can you make? You know, Roy, since he got the shipment and he took a sample, and he found that 10% of the sample was defective, he might, you know, be all up in arms and say, "Oh, this toy shipment from the factory, you know, they violated this promise that the percentage of defective toys won't exceed 5% because I sampled 10 toys and 10% of those 10 toys were defective."

Well, that isn't a reasonable conclusion, because this is a small sample. This is a small sample. Think about it. If he could have sampled five duckies and if he just happened to get one of the defective ones, he would have said, "Oh, maybe 20% are defective."

What he's really got to do is sample, take a larger sample. And once again, whenever you're sampling, there's always a probability that your estimate is going to be not close or definitely not the same as the parameter for the population. But the larger your sample, the higher the probability that your estimate is close to the actual parameter for the population.

And ten, in this is just too low. In future videos, we'll talk about how you can estimate the probability or how you can figure out whether your sample seems sufficient. But for this one, for what Roy did, I don't think 10 duckies is enough. If he sampled maybe 100 duckies or more than that and he found that 10% of them were defective, well, that seems less likely to happen just purely due to chance.

Let's do a few more of these, and actually, I'll do those in the next videos.

More Articles

View All
1999 Berkshire Hathaway Annual Meeting (Full Version)
[Applause] Good morning! Really delighted we can have this many people come out for a meeting. It says something, I think, about the way you regard yourself as owners. We’re going to hustle through the business meeting and then Charlie and I will be here …
Senate checks on presidential appointments | US government and civics | Khan Academy
Presidents of the United States have many powers, but perhaps one of the most influential of these powers is the power of appointment. They can, of course, appoint members of their cabinet. They can appoint ambassadors, and they can appoint judges. We cou…
15 Red Flags Of A Financially Uneducated Person
How do you know if someone is actually rich? There are a lot of people out there who are faking it just for social status or to sell others a lifestyle, and the answer can be summarized in two words: Financial education. Here are 15 red flags of a financi…
Great White and Oceanic Whitetip Sharks: Photographing Top Ocean Predators (Part 3) | Nat Geo Live
The third in the four species of sharks that I wanna share with you tonight is the Oceanic White Tip shark, a shark that has been listed as the fourth most dangerous species of sharks if you pay attention to such lists. It’s an animal that is a true pelag…
This Small Satellite Could Predict the Next Hurricane | Short Film Showcase
What NASA did with the Apollo program was amazing, but the amounts of money that you had to spend to do that work were enormous. You can’t just do space for the sake of doing space. So, the only way to really open up the frontier is to show that the front…
What If You Just Keep Digging?
If you’ve ever thought, “What if I just dug a really, really deep hole?”, that’s what the USSR did right here! That hole is deeper than the deepest part of the ocean. It’s deeper than Mount Everest is tall. They started digging it in the 1970s as part of …