Non-Sampling Error

What is a 'Non-Sampling Error'

A non-sampling error is a statistical error caused by human error to which a specific statistical analysis is exposed. These errors can include, but are not limited to, data entry errors, biased questions in a questionnaire, biased processing/decision making, inappropriate analysis conclusions and false information provided by respondents.

BREAKING DOWN 'Non-Sampling Error'

Non-sampling errors are part of the total error that can arise from doing a statistical analysis. The remainder of the total error arises from sampling error. Unlike sampling error, increasing the sample size will not have any effect on reducing non-sanpling error. Unfortunately, it is virtually impossible to eliminate non-sampling errors entirely.

RELATED TERMS
  1. Accounting Error

    An error in an accounting item that was not caused intentionally. ...
  2. Sampling Error

    A statistical error to which an analyst exposes a model simply ...
  3. Error Of Principle

    An accounting mistake in which an entry is recorded in the incorrect ...
  4. Tracking Error

    A divergence between the price behavior of a position or a portfolio ...
  5. Type I Error

    A type of error that occurs when a null hypothesis is rejected ...
  6. Heteroskedastic

    A measure in statistics that refers to the variance of errors ...
Related Articles
  1. ETFs & Mutual Funds

    3 Reasons Tracking Error Matters

    Discover three ways investors can use tracking error to measure performance for a mutual fund or ETF, whether indexed or actively managed.
  2. Investing

    Explaining Standard Error

    Standard error is a statistical term that measures the accuracy with which a sample represents a population.
  3. Investing

    9 Cognitive Biases That Affect Your Business

    Human beings often act irrationally when it comes to business decisions. Behavioral finance explains the difference between what we should do and what we do.
  4. Managing Wealth

    Top 3 Mistakes That Cause Traders To Fail

    Find out how to avoid these common investing errors that have sunk many investors' portfolios.
  5. Personal Finance

    What Does Errors and Omissions Insurance Cover?

    Errors and omissions insurance protects companies and individuals against claims made by clients for inadequate work or negligent actions.
  6. Investing

    10 Steps To Help Erase Errors On Your Credit Report

    According to a study conducted by the Federal Trade Commission, one in four consumers identified errors on their reports that might affect their credit rating in 2013.
  7. Managing Wealth

    What is Inherent Risk?

    Inherent risk is the possibility of inaccurate information appearing in a financial statement due to factors such as error or omission.
  8. Trading

    Trend Tips For Every Type Of Trader

    Profitable trading opportunities unfold with specific time requirements.
  9. Investing

    6 Successful Investments Warren Buffett Passed On (GOOGL, XRX)

    Even Warren Buffett, the greatest investor of our time, has made many unforced errors. Investors can learn from his mistakes of omission and commission.
  10. Markets

    Social Security Depletion Coming Sooner Than Expected

    While it comes as no surprise that the health of Social Security as we currently know it is less than ideal, the publicized estimates of when Social Security funds will run out are "grossly ...
RELATED FAQS
  1. How is the standard error used in trading?

    Understand how the standard error is used in statistics and what it measures. Learn how the standard error is used in trading ... Read Answer >>
  2. How can I calculate the tracking error of an ETF or indexed mutual fund?

    Understand what tracking error is and learn about the significant difference it can represent for investors who favor index ... Read Answer >>
  3. Is tracking error a significant measure for determining ex-post risk?

    Before we answer your question, let's first define tracking error and ex-post risk. Tracking error refers to the amount by ... Read Answer >>
  4. How do I fix an error on my credit report?

    Take control over your credit report by disputing false claims, accounts and information to the three major credit reporting ... Read Answer >>
  5. How do financial markets react to recessions?

    Learn more about the relationship between recessions and financial markets by identifying the fundamental characteristics ... Read Answer >>
  6. What's the difference between a representative sample and a convenience sample?

    Learn the difference between convenience sampling and representative sampling and the advantages and disadvantages of each ... Read Answer >>
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center