...The methods include random sampling, stratified sampling, and systematic sampling. Every sampling method uses logic in sampling of data. This involves the procedure in sampling of a given set of information. Random sampling The random numbers used from the random tables include 11168, 36318, 75064, 21215, 91791, 76831, 10468, 44482, 66558, and 12032. The data in the table provide is labelled in terms of two digits. 11168- 01, 11, 64 36318- 03, 63, 18 75064- 07, 50, 64 21215- 02, 12, 15 91791- 09, 17, 91 76831- 07, 68, 31 10468- 01, 04, 68 44482- 04, 44, 82 66538- 06, 65, 38 12032- 01, 20, 32 The first ten numbers from the random table within the boundaries of the data are selected. This does not include the repeating entry. The selected random numbers are from the list of random table numbers include 01, 11, 64, 03, 63, 18, 07, 50, 02, and 12. Names of the selected ten random numbers 1. Lauren Aaronson 2. Andrew Abbot 3. James Abbot 4. Saleha Abedin 5. Christopher Abells 6. Marjorie Abend-Wein 7. Jill Abood 8. Reed Adams 9. Evan Adelson 10. Francis Adeola Procedure in random sampling The procedure in random sampling uses random tables to determine the values to sample. Before selecting the values, each value of the data provided is labelled with two digits. For example 01 up to the last value 72. Random tables are used to sample first ten required values. The selected random numbers from the random table appear split into...
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...CHAPTER I INTRODUCTION As people nowadays are becoming conscious on what they eat, the partners have come up with the idea of incorporating a nutritious ingredient to the famous frozen dessert - ice cream. The business will be able to introduce the vegetable ice cream in the market. The business is named Renaissance Partnership. The business venture is an upscale business selling new variety of ice cream products primarily vegetable-based frozen dessert. It is established as a one stop shop offering different and unique flavors of ice cream as dessert. The business falls under the food industry specifically the ice cream industry and is under the category of dairy products. Dairy products are generally defined as foods produced from cow’s or domestic buffalo’s milk and are usually high-energy-yielding food products. In general, ice cream is a frozen dessert usually made from dairy products with fruits and flavorings. The major markets that the business serves will be composed of individuals who are patrons of desserts like ice cream and other frozen snacks. Their ages ranges from young individuals to adults. The gender is not a hindrance since almost everyone loves to eat ice cream. Summer season is the projected time that would increase demand for the ice cream. The ice cream product would be saleable during summer season but regardless, ice creams can be served at anytime of the year. The business is using e-commerce and social networking...
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...StockTrak Project Summary 1. I chose to passively manage my portfolio for a number of reasons. The first reason was in order to minimize trading costs and therefore increase overall real return of my portfolio. The second reason was that finding mispriced securities is a hard task to undertake, and therefore would increase the volatility of your returns. Since I don’t have previous trading experience, I would be taking a risk by trying to outperform the market. For that reason, I decided to passively hold the indexed portfolio. My third reason for choosing a passive management style was that the current state of the market is very volatile. Even experts from top banks have had a hard time correctly predicting the future outlook on equities. Another big reason I chose to passively manage my portfolio is that capital gains taxes are drastically lowered using this strategy. By holding securities for long periods of times, you decrease the capital gains taxes owed when you sell the securities. For active managers, high capital gains tax on sold securities is a big cost to consider. I wanted to avoid this issue and factored it into my decision to be a passive portfolio manager. 2. My final tracking error was .74%. This tracking error shows a fairly close relationship between the returns of my portfolio and the S&P 500 index. This tracking error was consistent with the initial optimization objective of closely modeling the returns of the S&P 500 as indicated by the...
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...contains 500 invoices, stratum 3 contains 1000 invoices, and stratum 4 contains 3450 invoices. A sample of 500 sales invoices is needed. a) what type of sampling should you do? why? A stratified random sampling is suitable for this study. This is because the population of invoices is heterogenous which results in increase in the variance of the estimators. When the population is divided into homogeneous strata and stratified random sampling is adopted a reduction in the variance of the estimators is attained. b) Explain how you would carry out the sampling according to the method stated in (a) The size of the population is 50 + 500 + 1000 + 3450 = 5000 The size of the sample is 500 The sampling fraction is 500/5000 = 0.10 = 10% From stratum 1, a simple random sample of size 5 (10% of 50) is chosen. From stratum 2, a simple random sample of size 50 (10% of 500) is chosen. From stratum 3, a simple random sample of size 100 (10% of 1000) is chosen. From stratum 4, a simple random sample of size 345 (10% of 3450) is chosen. Thus a stratified random sample of size 5 + 50 + 100 + 345 = 500 is obtained. c) Why is the sampling in (a) not simple random sampling? In simple random sampling all possible samples of size 500 are given the same probability of being selected. In stratified random sample, this not the case. For example the probability of selecting 500 invoices from stratum 4 is 0. Only 345 invoices are selected from stratum 4. The NBC hit comedy Friends...
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...institutions such as colleges and universities. In addition to academic institutions, research studies are common among business and government organizations. However, Selltiz (2009), points out that despite the increase in the research work in the last couple of years, little attention is paid to research methodologies. A large number of analysts have focused their attention on the quantity of the research studies rather than the quality of the studies. The result is that most of the research studies especially in the social sciences tend to be futile. This essay will evaluate two articles and summarize data collection instruments, sampling methods and statistic approaches using in the articles. The two articles include the ‘the impact of Information technology on the HR function and transformation’ and ‘how will competition change HRM in Retail and Banking? A strategic Perspective’. The article ‘how will competition change HRM in Retail and Banking? A strategic Perspective’, has applied sampling techniques while the other article has not used the techniques. Some of the sampling methods using in this article include simple sampling and stratified sampling. Let describe the weakness and strength of the two sampling as applied in the article. Simple random sampling is the simplest form of sampling. An item is selected randomly from the population to represent the entire population. For instance, a fruit is selected from a basket of fruits to represent all the fruits in...
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...1.1 create a plan for the collection of primary and secondary data for a given business problem. Primary Data Primary data can collect by using experiments, surveys, questionnaires, interviews, and observations. If you’ve already gathered this information, we can then analyze it and then come up with accurate results based on your needs. But if you haven’t already gotten this information together, no problem! We can also help with that step of data collection as well. (datacollectionservice.net, 2015) We make primary data collection easy * We create a questionnaire and interview * We design a survey * We choose the sample * We analyze the data Secondary Data Secondary data comes from resources that have already been published. You may have a running list of certain sources but there are so many published items in the world, it can be hard to find the one thing that will make a difference to your project. Collection of data from secondary sources is a treasure hunt and we are skilled researchers with an eye for diamonds. We have developed extensive lists of secondary sources of data collection and will utilize them for your project. Just because something is listed, as a secondary source for data collection doesn’t mean that it’s less important though. (datacollectionservice.net, 2015) Secondary data collection has never been easier * We define the values * We surf the webpages * We create a custom Table * We analyze and...
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...DICHOTOMOUS – consists of one or two values; example of which is gender (male or female) * TRICHOTOMOUS – three values; example is in an opinion poll (for, against or undecided) * MULTINOMOUS – four and more; example of which are the responses coming from the a survey like “Smoking Habits”(always, very often, often, seldom, very seldom) * QUANTITATIVE – are those quantities that can be counted with your bare hands, can be measured with the use of some measuring devices, or can be calculated with the use of mathematical formula. Data involving quantitative variables are called quantitative data. * DISCRETE – consists of variates (actual values) usually obtained by counting. They are represented by counting numbers or whole numbers. (no. of students in a Research Class) * CONTINUOUS – are obtained by measurements, usually with units such as height in meters, weight in kilograms and time in minutes. DATA AND INFORMATION * DATA – usually refers to facts concerning things such as status in life of people, defectiveness of objects or effect...
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...the sampled population who are actually selected to participate or to be the subject in the study Sample size * Total number of elements in the sample SAMPLING * the process of selecting a small number of elements from a larger defined target group of elements such that the information gathered from the small group will allow judgments to be made about the larger groups SAMPLING TECHNIQUES * PROBABILITY SAMPLING a method of selecting a sample wherein each element in the population has a known, nonzero chance of being included in the sample. Simple Random Sampling a probability sampling method wherein all members of the population have equal chances of being included in the study. When to use: * If the members of the population are not so spread geographically. * If the members are homogeneous with respect to the characteristic under study. Systematic Sampling probability sampling method wherein the selection of the first member (random start - r) is at random (using simple random sampling) and the selection of the other members in sample is systematic by successively taking every kth member from the random start, where k is the sampling interval. When to use: * If the arrangement of the members is according to magnitude. * If there is no available list of members of the population. Stratified Sampling * a probability sampling method where we divide the population into nonoverlapping subpopulations or strata...
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...Sampling Techniques Psychology 341 August 11, 2013 ABSTRACT The present research paper was designed to discuss the different types of sampling methods used to conduct research in the field of Psychology. The sampling techniques included in this paper are probability sampling, non probability sampling, surveys and questionnaires. The use of examples for each type of technique is given to further the understanding of each specific type. Furthermore, some the most important aspects that should considered before selecting a method are outlined in detail. Sampling Techniques When conducting research, it is almost impossible to study the entire population that we are interested in looking at more in depth. For example, if we were interested in comparing the level of romantic satisfaction among college students in the United States, it would be practically impossible to survey every single person who is attending college in the country. Not only would it take an extremely long time to do so, but it would also be very expensive. That is why researchers will use small samples from the population to gather their data instead. A sample is particularly useful because it allows the researcher to make inferences about a specific population without having to actually survey the entire population (Trochim, 2006). There are several sampling techniques used to gather information about a sample. Some of these include probability sampling, non probability sampling, surveys, and questionnaires...
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...MARK205 Introductory Marketing Research Week 8 Today Week 8 1. Background 2. Populations & Sampling Frames Sampling 3. Sampling Process 4. Sample Size Chapters 11 & 12 of Aaker et al. (2007) The Research Process Learning Objectives • Explain the key concepts in sampling • Understand the step in the sampling process • Identify & evaluate alternative sampling techniques • The fundamentals of determining a suitable sample size 1. Background Concepts 1. Background Concepts Key Terms Population X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X Sample Population: X X X X X Census: X X X X X X X X The set of all objects that posses some common set of characteristics X Sample: Sampling: The process of surveying a sample of the population in order to make inferences about the whole population Dr Julie Francis Autumn 2015 1 MARK205 Introductory Marketing Research Week 8 1. Background Concepts 1. Background Concepts When Would You Take a Census? When is Sampling Appropriate? • When the population is small • When the population is large e.g., Mining companies operating in QLD or owners of private jets • Information is needed from every member of the population e.g., national population census or tweets about a natural disaster • Cost of making a wrong decision is high ...
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...been categorized into their year groups. These year groups begin with the students entering their teens, and end in their mid-teenage years. In order to be able to compare girls and boys in each year, I will represent the distribution of heights and weights for both sexes in each year in various forms. I plan to use stem and leaf plots, scatter graphs and box plots, and a wide range of calculated data, like the mean of the heights and weights, their interquartile range and their Body Mass Index. The data that will be represented will not be all the data provided, as if I were to do this, then I would be plotting 2366 datum points which would be ideal, however time does not allow for this number of points. So, instead I will take a stratified sample of the total data and use this sample in the investigation. From these representations of the data, conclusions will be drawn as to how the relationship between height and weight changes with age and sex, but before this is done, any anomalous data points will be considered, so that they do not affect the overall conclusions....
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...statistically valid representation, and the time, energy, money, labour, equipment and access available • A sampling strategy made with the minimum of bias is the most statistically valid • Most approaches assume that the parent population has a normal distribution where most items or individuals clustered close to the mean, with few extremes • A 95% probability or confidence level is usually assumed, for example 95% of items or individuals will be within plus or minus two standard deviations from the mean • This also means that up to five per cent may lie outside of this - sampling, no matter how good can only ever be claimed to be a very close estimate Sampling techniques Three main types of sampling strategy: • Random • Systematic • Stratified Within these types, you may then decide on a; point, line, area method. Random sampling • Least biased of all sampling techniques, there is no subjectivity - each member of the total...
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...for the purposes of sociological research (16 marks) Sociologists face many problems; firstly they may find it hard to decide which ethnic group to study as some ethnic groups you might not be able to enter and study e.g. ISIS as they are dangerous. Furthermore, some ethnic groups are very dangerous and could be hard to study depending on what ethnicity you are. Secondly, sociologists need to make the decision on whether they want to make the sample representative, which means they use random numbers or systematic sampling. Thirdly, you need to decide how many people you want in you sample whether it’s a big number or a small number but usually you use a small number that can reflect on a country. Moreover, you need to decide a sampling frame, which is the list of members of the total population of interest. Finally you need to decide the sampling technique, there are many techniques; there is the random sample which is to make it representative. There is also the stratified sample, quota sample, panel sample, cluster sample and the snowball...
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...P5 Formally define research population . Identify and evaluate the merits of alternative sampling frames. Suggest most appropriate one and justify your selection. Research population is the target population on which a study or research is conducted through various different methods inorder to reach a conclusion from the data generated. It is for the benefit of the population directly or indirectly. But, due to very large size of research population, it is not feasible to test all the individuals of the population since it will take too much time and will be expensive as well. So the researchers take few individuals from the research population ( a subset of the set of target population) using sampling techniques. These techniques helps to take out sample as per the requirements of the type of research that is to be conducted. A research population is also known as a well-defined collection of individuals or objects known to have similar characteristics. All individuals or objects within a certain population usually have a common, binding characteristic or trait. Usually, the description of the population and the common binding characteristic of its members are the same. "Government officials" is a well-defined group of individuals which can be considered as a population and all the members of this population are indeed officials of the government. There are various sources from which a sample is created. A set of all these sources is called a Sampling frame from which...
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...SAMPLING: In statistics and survey methodology, sampling is concerned with the selection of a subset of individuals from within a population to estimate characteristics of the whole population. The three main advantages of sampling are that the cost is lower, data collection is faster, and since the data set is smaller it is possible to ensure homogeneity and to improve the accuracy and quality of the data. The sampling process comprises several stages: * Defining the population of concern * Specifying a sampling frame, a set of items or events possible to measure * Specifying a sampling method for selecting items or events from the frame * Determining the sample size * Implementing the sampling plan * Sampling and data collecting PROBABILITY AND NON-PROBABILITY SAMPLING: A probability sampling scheme is one in which every unit in the population has a chance (greater than zero) of being selected in the sample, and this probability can be accurately determined. The combination of these traits makes it possible to produce unbiased estimates of population totals, by weighting sampled units according to their probability of selection. Non-probability sampling is any sampling method where some elements of the population have no chance of selection (these are sometimes referred to as 'out of coverage'/'under covered'), or where the probability of selection can't be accurately determined. It involves the selection of elements based on assumptions regarding...
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