ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a reason for using a random sample of the population inmarket research?1) It is more accurate than asking the whole population2) It is more expensive than asking the whole population3) It gives everyone in the population an equal chance of being questioned4) It concentrates research on consumers who share similar characteristics, e.g. all ofthe same age
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Explanation:
Detailed explanation-1: -Sampling is done because you usually cannot gather data from the entire population. Even in relatively small populations, the data may be needed urgently, and including everyone in the population in your data collection may take too long.
Detailed explanation-2: -Random selection permits the researcher to link findings from a sample to the body of probability theory in order to estimate the accuracy of those findings. Stratified sampling results in a greater degree of representativeness but at the same time increases the probable sampling error.
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