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Statistical Sample refers to a subset of a population to be studied. In Finance, and particularly investments, the population is rarely known, so sampling techniques are used to make a best guess estimate about a population.
Synonym: sample, replicate
For context, the size of the sample is an important aspect of any empirical study for the analyst to make inferences about a population.
There are several ways an investment analyst can select the appropriate sample size, including using a target variance for an estimate, the power of the statistical test and the confidence level desired. Also, making estimates about a proportion, mean, for hypothesis testing requires different procedures.
Sometimes as a rule of thumb, with investments, analysts will require a sample size of 30, or 60 observations.
Guy: Yeah...but none of my past three
employers complained about my social skills.
Eve: Now that's not a verg big statistical sample
Guy. You should be the first to acknowledge that.
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