Research and Statistical Method for Business 2022

Running head: RESEARCH
Research and Statistical Method for Business
Name of Student
Name of University
Author Note

1
RESEARCH
Answer 1
“Sample size” is a vital consideration of a research study that is associated with the
collection of primary data (Robinson, 2014). The size of sample is vital as the sample helps in
making an inference in relation to the whole population. Therefore, in a research, the sample size
helps in representing a specific population.
The sample that is chosen for the research that aims in finding out the ‘Associations
between quantitative, qualitative job insecurity and wellbeing’ is fifteen thousand employees.
The use of such a significantly large sample size was essential as the sample represented the
employees in banking sector. The sample chosen for the study is one third of the total population
and from a statistical point of view, the sample size chosen was appropriate for execution and
completion of the research. Choosing a large sample size often returns more accurate research
results mostly because a larger sample size contributes to easier identification of the outliers that
is capable of skewing the data in a smaller sample and provide a smaller margin of error
(Malterud, Siersma & Guassora, 2016). The choice of such a large sample size for the study was
essential to get more precision and accurate research results.
There is one significant disadvantage of using a larger sample size. The cost of data
collection considerably increases with a larger sample (Boddy, 2016). For example, in the chosen
study, a use of a sample size of 15 thousand individual and collection of data from each of the
individual by sending the questionnaire through post involves a significantly large cost
expenditure. This is the only drawback of choosing a large sample size.
A sample size of fifteen thousand employees from a total of 69,000 bank staffs was
necessary as the sample size represents only 21% of the total bank employee. The aim of the

2
RESEARCH
undertaken study is to evaluate the Associations between Well-being and Quantitative,
Qualitative Job Insecurity and for that, it is necessary to collect views of a large sample as they
will be representing the total population (Fugard & Potts, 2015). The study originally aimed in
questioning all the employees which would have been too costly and therefore, one third
employees of the total number of employees are chosen at a random manner to represent the total
number of employees.
A sample in a research study is described as a subset of population selected for a
particular research study (Fugard & Potts, 2015). Therefore, the purpose of sampling in a
particular study is to find an accurate representative sample that would be suitable for
representing the total population and avoid the bias and therefore, in this case, the choice of this
large sample size is justified since the sample is capable of representing the total population
(Anthoine et al. 2014). Furthermore, it is mostly undesirable to try and study an exceptionally
large population as it would not be feasible. In the undertaken research, a sample size of 69,000
would have been undesirable and instead, the sample of 15,000 is quite accurate and proved to be
useful in achieving the objectives of the research.
Answer 2
The sample size chosen for the study is 21% of the total employees of each bank. A total
of fifteen thousand employees were chosen for the survey. Within each bank, the employees
chosen for the survey were chosen at random with no proper rule or limitation for gender,
employee level or age. Thus, it can be indicated that a random sampling method was chosen for
the survey.

3
RESEARCH
A random sampling method is a sampling technique where each sample has an equivalent
likelihood of being considered in a study (Emerson, 2015). In this method of sampling each
member of the subset generally has an equal chances of being selected for the study and
therefore, this particular sampling method is quite effective for this current study.
There are certain key advantages of choosing a random sampling method, which are
indicated as follows-
1. This is a scientific technique of sampling and therefore is capable of representing a
target population by eliminating of the sampling bias (Puy et al., 2018).
2. Random sampling technique is suitable for choosing a larger sample size, which is the
case of this particular study as well.
3. Random sampling method is not dependent on any detailed information and hence it
can be easily implemented.
4. This sampling method is mostly based on the theory of probability. Therefore, it can be
said that this particular method has mathematical implication and is quite effective in
determination of the sampling error.
5. This particular method of sampling returns high accuracy in data collection and
analysis.
Along with the above mentioned advantages, there are certain disadvantages or demerits
of random sampling, which are indicated as follows-
1. It is a time consuming approach if a full list of larger population is not available.