Explain the terms 'Population' and 'sample". Explain why it is sometimes necessary and often desirable to collect information about the population by conducting a sample survey instead of complete enumeration.

In the field of quantitative analysis and managerial applications, the concepts of 'population' and 'sample' are fundamental to statistical research and decision-making processes. These terms are used to describe the group of subjects or data points being studied, as well as the subset from that group that is selected for analysis.

A population refers to the entire set of individuals, items, or data points that share a common characteristic and are of interest in a particular study. For instance, if a manager wants to understand the purchasing behavior of all customers in a city, the population would include every customer within that city. In quantitative analysis, the population represents the total group from which researchers seek to draw conclusions. It can be finite, such as the number of employees in a company, or infinite, like the total number of possible outcomes from a probabilistic process.

On the other hand, a sample is a subset of the population selected for the purpose of analysis. The goal of __________ ____ _______ _____ ___ _____.
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