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What difference between Statistical Sampling and non-statistical sampling?
Statistical sampling is an objective approach using probability to make an inference about the population. The method will determine the sample size and the selection criteria of the sample. The reliability or confidence level of this type of sampling relates to the number of times per 100 the sample will represent the larger population. Non-statistical sampling relies on judgment to determine the sampling method,the sample size,and the selection items in the sample.
What Type of sampling is used for estimating population?
statistical.
How would you define the sampling universe and why you chose this sample definition?
The sampling universe is the totatility of items/events from which you can select or sample for statistical analysis and description.
What are the advantages of sampling plans based on statistical laws and guidelines?
A) more economical B)fewer personnel needed C) Less handling
Discuss the utility of statistics as a managerial tool Also describe its limitations?
The limitation of any statistical application is the fact that it always depends on some sampling. If this sampling is incomplete, or not representative of your actual base (say customers), your data may not yield accurate conclusions. Additionally, since it depends on sampling, your measurement is only applicable to a base that fits the profile of your sampling. For instance, if you took your sampling from Caucasian males over age 35, and it turns out your customer base has a large number of African, American females under 23, your conclusions based on the statistics could be imperfect.
