sampling

• Sampling - selecting subsets of individuals from a larger population to represent the whole
• Random sampling - every member has an equal change of being selected for the sample
• Stratified sampling - population is divided into subgroups/strata and random samples are taken from each group
• benefits

  • reduce risks and costs
  • flexible & quick
• drawbacks of sampling

  • sample cam be unrepresentative of population
  • risk of bias research
  • not useful in markets where theres quick change