Advantages of sampling, Applied Statistics

 

Advantages of Sampling

Why should we settle on a sample instead of studying the entire population?  Sampling has the following advantages over a census (study of the entire population):

1. The population may be  too large  to be studied in full.

For example, a manufacturer of wrist watches may find it impossible to locate all the buyers and obtain their opinions about the product. Instead, the manufacturer may ask the watch retailers to provide the buyers with a response form so that they can fill in their opinions and mail it to the manufacturer. Every buyer is not likely to respond, but those who do, may be treated as a sample from the population of all buyers.A study of a sample is usually cheaper than a study of the population.

2. Sampling usually provides information quicker than a census so that timely decisions can be taken.

3. Sampling involves less work as compared with a census. Hence, the chances of errors while processing the data are less.

4. In destructive testing sampling is the only available course.

For example, if a manufacturer wants to find out the average life of the pencil cell batteries manufactured by his plant, one way to do is to operate each cell until its life is over and record the life duration so that the average life may be computed. However, if every cell is used up this way, the manufacturer will not have any cells for customers. Hence, sampling is the way to determine average cell life in such a case.

5. Testing the entire population may not be possible. For example, if a manufacturer develops a possible remedy for the common cold, all those suffering from this ailment may not be willing to try the remedy. Hence, sampling is the only alternative.

Posted Date: 9/15/2012 2:55:08 AM | Location : United States







Related Discussions:- Advantages of sampling, Assignment Help, Ask Question on Advantages of sampling, Get Answer, Expert's Help, Advantages of sampling Discussions

Write discussion on Advantages of sampling
Your posts are moderated
Related Questions

Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration

Examples of grouped, simple and frequency distribution data

Zinc is a trace element and it is important in wound healing, building up the immune system and DNA synthesis. The data in Table 1 represents the zinc intake (in milligrams) for a

Testing of Hypothesis One objective of sampling theory is Hypothesis Testing. Hypothesis testing begins by making an assumption about the population parameter. Then we gather

objective of the testing stochastic regression

A. Compute descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are most volatile?

The file Midterm  Data.xls has a tab labeled "National Grid vs. Alcoa" which presents historical price data for two stocks.  Using the National Grid price as the X-value and the Al

.what job can you after offering that course

Collect data about the chosen business problem or opportunity at the company. Explain how you obtained a suitable sample of either qualitative or quantitative data. Review data f