Asked by Linda Cashdollar on Jul 17, 2024
Verified
Why is sampling from empirical data not advisable to use when defining an assumption?
Empirical Data
Information obtained through observation or experimentation rather than theory or pure logic.
Crystal Ball
A metaphorical term often used to describe the act of predicting future events with certainty.
- Understand the methods for applying distributions and conducting predictions using Crystal Ball.
Verified Answer
AW
Alexius WrightJul 23, 2024
Final Answer :
While sampling from empirical data is easy to do,it does have some drawbacks.First,the empirical data may not adequately represent the true underlying population because of sampling error.Second,using an empirical distribution precludes sampling values outside the range of the actual data.Therefore,it is usually advisable to fit a distribution and use it for the assumption.
Learning Objectives
- Understand the methods for applying distributions and conducting predictions using Crystal Ball.
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