Math

• Sampling Method can be defined as the process through which individuals or sampling units are selected from the sample frame.
• Probability sampling involves random selection, allowing you to make strong statistical inferences about the whole group.
• Non-probability sampling involves non-random selection based on convenience or other criteria, allowing you to easily collect data
• A simple random sample is a randomly selected subset of a population. In this sampling method, each member of the population has an exactly equal chance of being selected.
• The probability that any one item will appear in the sample is p = 1/N
• In a simple random sample, every possible combination of n items is equally likely to occur.
• Systematic sampling is similar to simple random sampling, but it is usually slightly easier to conduct
• Cluster sampling involves dividing the population into groups called clusters, choosing some of these clusters at random, and collecting information from everyone in the chosen clusters.
• Stratified sampling involves dividing the population into subgroups called strata, selecting a representative sample within each stratum, and combining those samples to form the overall sample.
• Snowball sampling is a recruitment technique in which research participants are asked to assist researchers in identifying other potential subjects.
• Compounding is a powerful investing concept that involves earning returns on both your original investment and on returns you received previously
• n = N / (1+Ne^2). Slovin’s Formula