An MBA from HBS will equip me with the managerial skills necessary to take our company to the next level. I am eager to engage with HBS' rigorous and unique Case Method, and I believe that studying a wide variety of business situations will broaden my expertise and help me think critically and creatively about my own business. I also am excited to meet and collaborate with diverse and brilliant HBS classmates. Moreover, I believe that my own unique perspective as an international student will enrich our discussions. Finally, I look forward to studying under some of the most eminent professors in the field. I am particularly keen to work with Professor Ananth Raman, whose book “The New Science of Retailing” was hugely influential to me in the last year of my undergraduate education. I hope to return to China with new ideas and fresh strategies, ready to expand our company into new Chinese and international markets.
The variance of a sampled subset of observations is calculated in a similar manner, using the appropriate notation for sample mean and number of observations. However, while the sample mean is an unbiased estimator of the population mean, the same is not true for the sample variance if it is calculated in the same manner as the population variance. If one took all possible samples of n members and calculated the sample variance of each combination using n in the denominator and averaged the results, the value would not be equal to the true value of the population variance; that is, it would be biased. This bias can be corrected by using ( n - 1 ) in the denominator instead of just n , in which case the sample variance becomes an unbiased estimator of the population variance.