When created effectively, this process ensures the success of an organizationâs marketing strategy. When you focus on the implementation phase of the process, which is the putting of the marketing strategies and plans into action, there are ways to help make this step as successful as possible.
For example, we use the sample mean as an unbiased estimator for the population mean. (Mathematically, it can be shown that the expected value of the sample mean is equal to the population mean). In the case of estimating the population standard deviation, the sample standard deviation is an unbiased estimator too.
The series of means, like the series of observations in each sample, has a standard deviation. The standard error of the mean of one sample is an estimate of the standard deviation that would be obtained from the means of a large number of samples drawn from that population.As noted above, if random samples are drawn from a population, their means will vary from one to another.he series of means, like the series of observations in each sample, has a standard deviation. The standard error of the mean of one sample is an estimate of the standard deviation that would be obtained from the means of a large number of samples drawn from that population.