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    Sampling is collecting data from a subset of a population rather than the entire population for cost-effective analysis. Key questions in sampling include determining sample size, selection method, and ensuring the sample accurately reflects the population. There are two main types of sampling: non-random sampling which uses subjective selection and may not represent the population well, and random sampling where each unit has a known chance of selection, providing a close representation of the overall population.

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    Sampling is collecting data from a subset of a population rather than the entire population for cost-effective analysis. Key questions in sampling include determining sample size, selection method, and ensuring the sample accurately reflects the population. There are two main types of sampling: non-random sampling which uses subjective selection and may not represent the population well, and random sampling where each unit has a known chance of selection, providing a close representation of the overall population.

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    10 views6 pages

    Session 13 - Asynchronous

    Uploaded by

    Aniket
    Sampling is collecting data from a subset of a population rather than the entire population for cost-effective analysis. Key questions in sampling include determining sample size, selection method, and ensuring the sample accurately reflects the population. There are two main types of sampling: non-random sampling which uses subjective selection and may not represent the population well, and random sampling where each unit has a known chance of selection, providing a close representation of the overall population.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 6

    Business Statistics –

    Sampling
    Dr. Nisha Prakash
    Class of 2023-25 (Session 13)
    Introduction

    • Census covers the entire population


    • For cost-effective analysis, information is collected from a part of the population, known
    as sample. The process is sampling.
    • Estimation is the process of using sample statistic to estimate population parameter
    Questions in sampling

    • What should be the sample size?


    • How should they be selected?
    • How do we know when our sample accurately reflects the entire population?

    Problem
    • Sampling bias
    Types of sampling
    Non-random Sampling

    • Selection process is subjective


    • No known chance of a particular
    unit in the population of being
    selected in the sample
    • Sample will not be representative of
    the population
    • Less effective, more popular
    Random Sampling

    • Each possible unit has a known


    probability of being included in the
    sample
    • Close representation of population

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