Significance of Population and Sampling Techniques

Business
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TABLE OF CONTENT
Introduction......................................................................................................................................3
Question 1........................................................................................................................................3
Significance of population and sampling techniques..................................................................3
Question 2........................................................................................................................................6
Comparing and contrasting primary and secondary data............................................................6
Question 3........................................................................................................................................9
Question 4......................................................................................................................................10
Conclusion.....................................................................................................................................13
REFERENCE................................................................................................................................14
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Introduction
Business is the activity which is performed in order to make profit. Sainsbury is the
multinational company and have its headquarters in England. They sell good quality of goods
and have wide product portfolio. This report will discuss significance of sampling and
population. Further this will analyse differences of primary and secondary data and also its
advantages and disadvantages. This report will also discuss mean, mode and standard deviation
and along with will evaluate how effective management information system helps in making
decisions.
Main body
Question 1
Significance of population and sampling techniques
Population:
A population is the whole group from which data or information is taken. Population is
the group which consist of different people. In statistics language, population includes all the
individual from which sample is taken for the investigation (Cattoir and et.al., 2017). The
selection of group is done by considering those individuals which have common feature and can
be included into population. Population involves human being from which samples are drawn by
the researchers for the purpose of research.
importance of population:
population is the total number of people which is living in some particular area. It involves
demographics and social characteristics. The size of population is vital in general also and when
it comes to research then it is very much important. Population is helpful in balancing the
environment. Population should have balance with the resources which are available. It should
be never like that the population is more and resources are less. Balancing population will only
be helpful in fulfilling needs and demands of the people. As per research population is the
objects from which researchers takes information and knowledge so that can be used in their
study. Population might be broad or it can be narrow. If the population includes less numbers of
objects then it becomes difficult to collect data from every individual of the population. So that is
why researchers choose subset from the population which is known as sample. Samples can be
managed easily and also helps researcher to give information so that can be used in the research.
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Researchers as per their research topic decides that from which population sample has to be
taken (Symonds, Kattirtzi and Shalashilin, 2018).
Sampling technique:
Sampling technique is the process through which researchers will collect the samples. As it is
impossible to study complete population at the time when survey has to perform. So samples are
taken from the population with the help of sampling technique. It is of two types which is
probability sampling and non probability sampling.
Sampling:
Sampling is the procedure which is utilized for doing statistical analysis in which from the whole
population predetermined observations are taken. The technique which is used to take out sample
from the population is dependent on the nature of analysis which is being performed. Sampling
have many uses, it is uses in determining accuracy in the financial statements. Sampling is also
used by auditor in order to perform audit sampling.
Various sampling techniques:
Probability sampling:
It is the process in which each and every individual from the population will get equal chance for
selection. This technique is majorly used in quantitative research. If researcher wants to give
outcomes which are the representative of the entire population then using this technique is good
choice.
Non probability sampling:
In this sampling technique, researcher choses samples on the basis of subjective judgements
given by the researchers and does not chose random selection to obtain samples from the
population. On the expert knowledge of researcher this method is dependent. This technique is
commonly used in qualitative research and it is done through observations.
Examples of probability and non-probability sampling techniques:
Types Probability sampling:
Simple random sampling:
In this sampling technique every individual from the complete population gets equal chance for
selection (Anowar, Sadaoui and Mouhoub, 2018). In order to use this method some tools are
required to collect samples which are random number generators etc.
Systematic sampling:
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