- CFA Exams
- 2021 Level I
- Study Session 3. Quantitative Methods (2)
- Reading 10. Sampling and Estimation
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Learning Outcome Statements PDF Download
1. Introduction a. define simple random sampling and a sampling distribution; b. explain sampling error; c. distinguish between simple random and stratified random sampling; | |
2. Time-Series and Cross-Sectional Data d. distinguish between time-series and cross-sectional data; | |
3. The Central Limit Theorem e. explain the central limit theorem and its importance; | |
4. Standard Error of the Sample Mean f. calculate and interpret the standard error of the sample mean; | |
5. Estimators g. identify and describe desirable properties of an estimator; h. distinguish between a point estimate and a confidence interval estimate of a population parameter; | |
6. Confidence Intervals for the Population Mean i. describe properties of Student's t-distribution and calculate and interpret its degrees of freedom; 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; | |
7. Common Biases in Sampling Methods 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. |

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