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.
Put simply, the standard error of the sample is an estimate of how far the sample mean is likely to be from the population mean, whereas the standard deviation of the sample is the degree to which individuals within the sample differ from the sample mean.f the population standard deviation is finite, the standard error of the sample will tend to zero with increasing sample size, because the estimate of the population mean will improve, while the standard deviation of the sample will tend to the population standard deviation as the sample size increases.