Basic Marketing Research with Excel

Business

Quiz 9 :

Determining Sample Size and the Sample Plan

Quiz 9 :

Determining Sample Size and the Sample Plan

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What do we mean by "level of confidence" and how is it expressed in the sample size formula?
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The formula for estimating percentage in population is given below:
img The calculated sample size is represented as n.
Standard value chosen with the level of confidence is represented as z.
Estimated percentage in the population is represented as p.
100% - p is represented as q.
Acceptable error is represented as e.
Level of confidence is represented as z in the formula.
The level of confidence is the confidence level that refers to how confident the marketers are if different survey is conducted the next day with the population and it results in the same sample size.
• For 95% of confidence, the value of z is 1.96.
• Commonly used values for z is 1.96, which means if the survey is to be conducted for 100 times then for 95 times the value of sample finding will fall within the predetermined level of accuracy.
• This leads to confidence in the reliability of sample finding.
Thus, the concept of level of confidence is expressed in the percentage value of the confidence level.

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Indicate the sample frame error typically found in the households listing of a telephone book.
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Sample frame is comprised of the master list of members or things included in a defined population. Sample frame is updated for each new entry in population.
Sample frame error comprises the difference between sample frame list and the actual existence of a particular population. It shows the misrepresentation of population in the sample frame list.
Errors found in the household listing of a telephone book are listed below:
• Missing numbers.
• Typing errors.
• Absence of new numbers obtained after publishing the directory.
• Disconnected telephone numbers.
• Telephone device failure.
• Numbers which have unpaid bills.
These errors show the misrepresentation of household listing present in a telephone book.

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What are three methods for estimating the variance in the population using the formula to calculate the sample size for estimating a mean?
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Would you use a proportionate or disproportionate stratified sample? Why?
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What is the formula for estimating a mean in the population? Explain how its components are different/like the components in the formula for estimating a percentage.
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Explain how you would use XL Data Analyst to calculate the desired sample size to estimate a percentage in the population.
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Explain how you would use the skip interval in a systematic sample if you had to draw a sample from your city telephone directory.
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What is cluster sampling and when would you use it?
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What is the formula for estimating a percentage in the population? Explain what the variables z, p, q, and e represent.
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What is systematic sampling and when would you use it?
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What is stratified sampling and when would you use it?
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How would you use XL Data Analyst to generate random numbers?
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Describe the four types of nonprobability samples.
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Explain why the Literary Digest survey of the Landon/ Roosevelt election was so incorrect.
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What are the drawbacks of using a nonprobability sample and why are they used?
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What is simple random sampling and when would you use it?
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What is meant by accuracy of a sample and what is the formula to measure it?
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How do probability samples differ from nonprobability samples and what is the significance of this difference?
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What does p, q measure and what relationship does this have to the size of the sample, given all else is equal?
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