Finding if it is sample or population

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chinni234

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I am having difficult to understand if given data needs to be treated as sample or population .

I found in the book treating following as sample/population

1. MSCI Germany Index Total returns 1993-2002 ----Population

2. Portfolio's deviations from benchmark return 1992-2003 ---- Sample

3. Portfolio turnover 2002 Forbes Honor Roll Mutual funds - ---Population

4. Returns for mutual funds slected american shares 1998-2002- --Sample

5. Monthly wilshire 500 index - --Sample

Could you please provide tip on how to decide given data is sample or population so that "n" or "n-1" is used as divisior.

Thanks,
Chinni
 
A population is the WHOLE thing, the whole universe of the object/event being examined, while a sample is a PARTof the whole.

So:

MSCI Germany Index Total returns 1993-2002 is a population, because that's all that's given.

Now if you had data for the same returns spanning a longer period of time, say you had:

MSCI Germany Index Total returns 1950-2007, and you were interested in 1993-2002 only, then it would be a sample.
 
Thanks for the info. The question is how do I know if MSCI exists before 1993 or there is data after 2002? I wonder if there is any hints on how to assume if it is sample/population.

By looking at 5 of the data listed, can I assume that data at particular year or at particular date as population. For example, "portfolio turnover 2002 forbes honor roll mutual funds" is treated as population.
 
"By looking at 5 of the data listed, can I assume that data at particular year or at particular date as population. For example, "portfolio turnover 2002 forbes honor roll mutual funds" is treated as population."
- That's because it is depicting the turnover of the entire population of 2002 forbes honor roll funds.
 
chinni234 Wrote:
-------------------------------------------------------
> Thanks for the info. The question is how do I know
> if MSCI exists before 1993 or there is data after
> 2002? I wonder if there is any hints on how to
> assume if it is sample/population.


I think you're reading too much into this. I'd imagine there would be a clear distinction on the exam.
 
You might have to use your judgement. Lola explained it well. The best way to look at population as the whole universe, and a sample - subset of that universe. Depending on the contest you are supposed to figure out what the universe (population) is and then whether your sample is the whole set (then it's population) or only a subset (then it's sample).
 
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