MKC2500 Lecture Notes - Lecture 12: Statistical Parameter, Stratified Sampling
18 Jun 2018
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ETC2500 Notes
Part 1: Sampling
Sample or Census
Population: set of all objects that possess some common set of characteristics with
respect to a marketing research problem.
• Objects could be customers, firms, cars, houses, etc
• A census obtains information from every member in the population (sample =
population = census)
• A sample estimates a population parameter by contacting only a subset of
the population (we can’t reach the whole population)
When is a census appropriate?
When is a sample appropriate?
• When the population is small
• Information is required from
everyone in population
• Cost of incorrect decision is high
• Sampling errors are high
• When the population is large
• Quick decision is needed
• Cost is an issue
• Improved quality
• Homogeneous population
• Census is not possible
Sampling Design Process
1. Define the Population
2. Determine the Sampling Frame
3. Select Sampling Technique(s)
4. Determine the Sample Size
5. Execute the Sampling Process
