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Collection of Data — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsCollection of Data4 Marks
Question
Which factors will you consider in determining sample size? Explain.
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Answer

Essentials of a good sample are as follows:
  1. Representativeness: A good sample should be representative of the entire population. It should have same characteristics as the entire population. It is possible when samples are selected at random i.e. each and every item was given equal chance of selection.
  2. Independence: Items comprising the sample should be independent of each other. It means that selection of one item should not be dependent on selection of other item.
  3. Homogeneity: There should be uniformity in sample in terms of units and other characteristic. If two different samples are taken from same population, they should give similar results.
  4. Adequacy: Sample should be adequate to give accurate results. In this context there are two laws of statistics- Law of Inertia of Large Numbers and Law of Statistical Regularity.

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