Management and Organizational Studies 3420F/G Chapter Notes - Chapter 12: Sample Size Determination, Confidence Interval, Statistic

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3420F/G
• Professor: Bonnie Simpson

Document Summary

Margin of error: a confidence interval around the sample statistic that a popular parameter is expected to be. involves financial, statistical, and managerial issues. Some cases require high levels of pre- cision (small margin of error) and confidence that population values fall in the small range of sampling error (the confidence interval). If the researcher determines that the sample size requested is not adequate to support the objectives of the proposed research, then she or he has a professional responsibility to present arguments for a larger sample size to the client. Number of subgroups analyzed consideration must be given to the number and anticipated size of various subgroups of the total sample that must be analyzed. Many variables encountered by marketers have probability distributions that are close to the normal distribution. Any population, regardless of its distribution, the distribution of sample means or sample proportions approaches a normal distribution as sample size increases.