BUSINESS ADMINISTRATION
RESEARCH METHODOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is/are advantages of studying the sample instead of whole population?
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It saves time
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It saves money
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Both (a) and (b)
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Neither (a) nor (b)
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Explanation:
Detailed explanation-1: -Samples are used to make inferences about populations. Samples are easier to collect data from because they are practical, cost-effective, convenient, and manageable. When are populations used in research? Populations are used when a research question requires data from every member of the population.
Detailed explanation-2: -Advantages: Usually the only option-it would be a rare scenario to have data on an ENTIRE population. You can make reliable estimates of the population with less time, effort, and money. (If the sample is representative of the population of interest)
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