Determine whether the data set is a population or a sample. Explain your reasoning.
The annual revenue of each team in a pro sports league

Verified step by step guidance

1. Understand the definitions: A population refers to the entire group of individuals or items that you are studying, while a sample is a subset of the population selected for analysis.
2. Identify the context of the problem: The data set provided includes the annual revenue of each team in a pro sports league. This suggests that the data includes all teams in the league, not just a subset.
3. Evaluate whether the data set represents the entire group: Since the problem specifies 'each team,' it implies that the data set includes all teams in the league, making it a population.
4. Explain the reasoning: The data set is a population because it includes all members of the group being studied (all teams in the league). If only a few teams were included, it would be considered a sample.
5. Conclude: Based on the information provided, the data set represents a population, as it encompasses the entire group of interest (all teams in the league).

Key Concepts

Population

A population refers to the entire group of individuals or items that share a common characteristic. In statistics, it encompasses all possible observations that can be made. For example, if we consider the annual revenue of every team in a pro sports league, this group represents the complete population since it includes all teams without exception.

Sample

A sample is a subset of a population, selected to represent the larger group. It is used in statistical analysis to draw conclusions about the population without needing to collect data from every member. If we were to analyze the annual revenue of only a few selected teams rather than all teams in the league, that would constitute a sample.

Data Collection Context

Understanding the context of data collection is crucial in determining whether a data set is a population or a sample. In this case, since the question specifies 'the annual revenue of each team in a pro sports league,' it indicates that all teams are included, thus confirming that the data set is a population rather than a sample.