What do you mean by universe in statistics?
Answers
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In economics and marketing a universe is a population to be studied or measured.
In economics a population to be measured is described as a "universe", and the measures which are generated are intended to reflect the behavior of that population. Different statistical surveys may measure related, but different, universes and have to be adjusted to reflect this difference. For example, the American Bureau of Labor Statistics has a household survey and an establishment survey to measure employment. The differences in the populations and behavior that these two surveys measure are said to be the differences in their "universe".
The word has a similar meaning in marketing, where it describes the activity in a given population. For example, ASCAP measures airplay in different radio "universes" to determine royalties for different songs, because e.g. air play in the "classical" universe is compensated differently from popular music. It also fundamental to television audience measurement:
Explanation:
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Universe in statistics is in terms of measurement of population.
- The entire group of units on which the study is focused is represented by the population or universe.
- Therefore, depending on the goal and scope of the study, the population may include everyone living in the nation, people living in a certain geographic area, or members of a particular ethnic or socioeconomic group.
- A population could also be made up of non-human entities like farms, homes, or commercial buildings.
- The universe in this scenario would be the "school" that includes all 5,000 students, and the unit or informant would be each of the 5,000 students who attend that school, for example, if we were to analyse the average expenditure made by students of a particular school that has 5,000 pupils.
Hence, universe in statistics is different from one in physics.
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