Prepare for the University of Central Florida GEB4522 Data Driven Decision Making Exam 2. Utilize interactive quizzes, flashcards, and detailed explanations to excel in your test. Enhance your decision-making skills and ace the exam!

In statistical terms, a population refers to all members of a specific group that are being studied. This could include individuals, items, events, or anything that falls under a defined criteria relevant to the research. Populations represent the entirety of the subjects or elements that share a common characteristic, making them the focus of statistical analysis.

Understanding the concept of population is crucial because it sets the stage for how researchers will collect data and draw conclusions. For instance, if a researcher is interested in the average height of adult males in the United States, the population would encompass every adult male in the country. Thus, when sampling is done, it's usually a subset of this population aimed at making inferences about the population as a whole.

The other options do not encapsulate the definition of a population accurately. A subset of data refers to a smaller group drawn from a larger dataset, while the average of a sample pertains to a calculated measure from that smaller group. A method of data collection describes the processes or techniques used to gather information and is not a representation of a group itself.