# Estimation Theory MBA 1st Year Semester Very Short Question Answer Notes

**Estimation Theory MBA 1st Year Semester Very Short Question Answer Notes: **In this Post, you will see about Estimation Theory MBA 1st Year Semester Very Short Question Answer Notes. This Post contains 3 Mock Papers For Self-Assessment Unit-Wise Division Of The Content Knowledge Boosters To Illuminate The Learning Solved Case Studies For Practice Theory Of Estimation, Point Estimation, Interval Estimation. Hypothesis Testing Null And Alternative Hypothesis; Type I And Type Errors; Testing Of Hypothesis; Large Sample Test, Small Sample Test, (T, F, Z Test, And Chi-Square Test) Notes.

**Estimation Theory MBA 1st Year Semester Very Short Question Answer Notes | Index**

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**MBA Topic Chapter Semester Wise Sample Model Practice Question Answer Papers**

**Q.1. Explain in the short theory of estimation.**

**Ans.** Estimation theory refers to the technique and methods by which population parameters are estimated from sample studies. Estimation of the parameter is absolutely essential whenever a sample study is conducted.

** Q.2. What is point estimation?**

**Ans.** Point estimation deals with the task of selecting a specific sample var population parameter. This population parameter might be mean, variance, standard deviation, proportion, or any other characteristic of the population.

**Q.3. Define the term null hypothesis.**

**Ans.** Where there is no difference between observed and expected frequencies formed, this hypothesis is called the null hypothesis.

**Q.4. Write the four essentials of good sampling. **

**Ans.** The four essentials of good sampling are:

- Representation of universe,
- Independence,
- Adequacy,
- Homogeneity.

**Q.5. Define the term simple random sampling. **

**Ans.** The sampling technique in which each and every unit of the universe has an equal opportunity of being included in the sample and every unit selected in the sample depends purely on chance.

**Q.6. What is probability sampling?**

**Ans.** Random sampling is also called ‘Chance sampling’ or ‘Probability sampling. In this method of sampling, all units of the sample are selected by chance because each unit of the universe has an equal chance of being included in the sample.

**Q.7. Write the three methods of random selection. **

**Ans.** The three methods of the random selection are:

- Lottery method,
- By rotating the drum,
- Random numbers.

**Q.8. Write the two merits and demerits of simple random sampling.**

**Ans. Merits:** The two merits are:

- The real representation of the universe.
- Measurement of sampling error.

**Demerits:** The two demerits are:

- The problem of complete and up-to-date information.
- The problem in field surveys.

**Q.9. Define the term restricted random sampling.**

**Ans.** If random sampling is used with certain conditions or restrictions, it is called restricted random sampling.

**Q.10. Describe the three methods of stratified random sampling. **

**Ans.** The three methods of stratified random sampling are:

- Proportional stratified sampling.
- Non-proportional stratified sampling.
- Stratified weighted sampling.

**Q.11. Write the four merits of stratified random sampling. **

**Ans.** The four merits of stratified random sampling are as follows:

- More representative,
- Administrative convenience,
- Suitable in heterogeneous units,
- The difference in sampling problem:

Estimation Theory MBA 1st Year Semester Very Short Question Answer Notes