INTRODUCTION TO ECONOMETRICS II ECO 306 NOUN 22
i. Element: An element is an object
on which a measurement is made,which
could be a voter in an area, a product as it comes off the assembly line or a plant in afield that has either flowered or not.
ii. Population: A population is a collection of elements about which we wish to make an inference. The population must be clearly defined before the sample is taken.
iii. Sampling units: These are some overlapping collections of elements from the population that covers the entire population. The sampling units partition the population of interest. The sampling units could be households or individual voters.
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