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How to Solve Sampling Homework Answers Quickly?

by Jul 9, 2017Accounting

To get an easy understanding about what sampling actually means, we have tried here to explain sampling first in laymen term so that figuring out becomes easy. In understandable words, Sampling is basically selecting a particular set of data from the whole population for determining the attributes of whole population. With sampling homework answers you can get complete details!

To make this concept of sampling clearer, quoting some examples hereby, which also differentiates population from sampling.

Example 1: Considering example of a city having a large number of multiple restaurants.

Population –. All the restaurants present in the city

Sampling – Collecting data of 200 restaurants from a phone book of that city

Example 2:Studying about preferences of tourist in any state.

Population –All the tourists who visited that particular state.

Sampling – Selecting a few number of tourists, let’s say 500 from entire population.

The examples quoted above are enough to elaborate about population and sampling. To be more precise, Sampling can be defined as a “process in statistical analysis wherein subsets of individuals are selected from that large population to determine the characteristic and features of whole population.”

In which domain sampling is majorly used?

Sampling finds its scope majorly in the area of statistics wherein data is collected, analyzed and presented, other areas includes quality confirmation and survey techniques.

Statistics being a branch of mathematics deals with a large number of data and its analysis as per parameters already set. But the data included in that can be as large as consisting ‘the whole population of a country.’

In this case, taking the whole population of the country under consideration for any kind of survey is quite not feasible. Here, a sampling of that data is widely used to reach to any kind of conclusion or result.

You must have seen a variety of surveys available online which first ask some personal question about you to get knowledge about your demographics because these surveys are meant to target some specific set of people. So, this clearly shows that from the entire population, sampling of specific set of people has been done on the basis of their demography.

Why is sampling preferred over population?

In spite of taking the whole population under consideration while estimating characteristics,it is always preferred to select a particular sampling unit for determining the attributes of whole population. Some benefits of sampling are listed below.

  • Easier and accessible

It is quite obvious that when we will perform the survey on entire population, then it’s not that easy and in some cases even not accessible because of immensely large population size. Henceforth, sampling is done to conquer with this problem and opting for a sampling unit to perform survey.

  • Cost effective

Sampling method is cheaper and cost effective as compared to taking entire population. Estimating the attributes of the whole population no doubt will require more budget and other resources, making this process more extravagant.

  • Less time consuming and faster

Instead of considering the whole population taking one sampling unit will reduce the time and will speed up the survey process.

  • Reliable estimates

Though taking whole population under consideration will give you more accurate results, but if sampling units are taken properly, then theses sampling units can also give reliable and dependable estimates.

What to do when you are stuck on sampling homework answers?

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