What is ‘Sampling’
Sampling is a process used in statistical analysis in which a predetermined number of observations are taken from a larger population. The methodology used to sample from a larger population depends on the type of analysis being performed, but may include simple random sampling or systematic sampling.
The sample should be a representation of the entire population. When taking a sample from a larger population, it is important to consider how the sample is chosen. To get a representative sample, the sample must be drawn randomly and encompass the whole population. For example, a lottery system could be used to determine the average age of students in a university by sampling 10% of the student body.
Factoring in Systematic Sampling
Systematic sampling uses a random starting point and a periodic interval to select items for a sample. The sampling interval is calculated as the population size divided by the sample size. Assume, for example, that a CPA is auditing the internal controls related to the cash account and wants to test the company policy that checks over $10,000 must be signed by two people, rather than just one person.
Examples of Sample Tests for Marketing
Every business attempts to sell a product or service to a market niche. A company samples individuals in a particular market niche to find out what they need and what problems they want to solve. The results of the sample help the business serve the needs of people in the market niche.
- The effect of jumps and discrete sampling on volatility and variance swaps – www.worldscientific.com [PDF]
- State-space models with regime switching: classical and Gibbs-sampling approaches with applications – ideas.repec.org [PDF]
- Gibbs sampling methods for Bayesian quantile regression – www.tandfonline.com [PDF]
- Sampling nested Archimedean copulas – www.tandfonline.com [PDF]
- Latin hypercube sampling with dependence and applications in finance – papers.ssrn.com [PDF]
- On an automatic and optimal importance sampling approach with applications in finance – www.tandfonline.com [PDF]
- Estimation under purposive sampling – www.tandfonline.com [PDF]
- A new sampling strategy willow tree method with application to path-dependent option pricing – www.tandfonline.com [PDF]
- Acceptance sampling based on truncated life tests for generalized Rayleigh distribution – www.tandfonline.com [PDF]
- Sampling the Dirichlet mixture model with slices – www.tandfonline.com [PDF]