Exercises in Sample Design In each of the following situations, make recommendat

Question

Exercises in Sample Design

In each of the following situations, make recommendations as to the type of sample to be used, the method of selecting the sample, and the sample size. For each scenario, you need to clearly and specifically indicate how the respondents in each sample will be identified and selected. In some of the scenarios, the sample size is indicated; in others, it is not and you will need to specify the size. (Do NOT focus on how the data will be collected.)

1. A sample of homeowners in the state of Illinois is desired for a major segmentation study conducted by a large financial institution. A lengthy personal interview lasting over 1 hour will be conducted with each respondent. A sample size of 3,000 is targeted.

Explanation / Answer

If the population is small then we can approach to each person but if it is very large then some time it is not feasible to reach at each population. In that case a sample which can represent the population in best possible way is the only way to study the population and make the conclusions. But when there are very large populations, it is often difficult or impossible to identify every member of the population therefore a sample is important. For a sample of homeowners in the state of Illinois as it is desired for a major segmentation study conducted by a large financial institution random sampling could be an appropriate sampling method. It is a simple probability sampling. Each member of the population has an equal and known chance of being selected.

In the sampling process, researchers can collect data themselves by examining documents, observing behavior or interviewing participants. The target sample size is 3,000 respondents and it requires the researcher to review all data, make sense of it and organize it into categories or themes that cut across all sources. For making a logical analysis out of data set. It may involve the following steps-

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