Realized 1031 Glossary of Terms

Sampling Error

Written by The Realized Team | Jun 27, 2022 12:00:00 PM

Sampling error is a statistical metric that occurs when an analyst does not select a sample representative of the population it was chosen from. When calculations are performed on the sample, they will not coincide with results from a sample that is representative of the population. This problem can be fixed by choosing a larger sample from the population. Sampling error isn’t necessarily a bad thing and is usually present in most samples. There is generally some amount of sampling error since the sample is always only a small part of the population. The smaller the sampling error, the more representative of the population the sample will be.