Sample Size - Sample Size Sample accuracy: refers to how...

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Sample accuracy : refers to how close a random sample’s statistic is to the true population’s value it represents Important points: Sample size is NOT related to representativeness… you could sample 20,000 persons walking by a street corner and the results would still not represent the city Sample size, however, IS related to accuracy Sample Size Sample Size
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The only perfectly accurate sample is a census. A probability sample will always have some inaccuracy (sample error). The larger a probability sample is, the more accurate it is (less sample error). Probability sample accuracy (error) can be calculated with a simple formula, and expressed as a +- % number. Sample Size Axioms Sample Size Axioms
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Variables that Influence Sample Size Variables that Influence Sample Size In the Real World: time, money, personnel available homogeneity of the data quantitative method used the client
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Variables that Influence Sample Size Variables that Influence Sample Size The three we'll discuss: Precision (e) - represents the size of the estimating interval Confidence - the desired confidence of the estimate Standard Deviation - represents the variability of the variable.
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Qualitative Approaches a. Arbitrary Approach - a heuristic: “5% of the population.” d. Cost Approach: “All you can afford” b. Conventional Approach: Industry Standards c. Times the Variables Sample Size Sample Size
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Examples of Typical Sample Sizes Market Studies
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This note was uploaded on 06/23/2011 for the course MKTG 352 taught by Professor ? during the Summer '10 term at South Carolina.

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Sample Size - Sample Size Sample accuracy: refers to how...

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