Simple Random Sampling 2020-03-07 08:00:00

Simple Random Sampling

A simple random sampling is a small sample of a population. The small sample is meant to represent the larger population being sampled. Rather than sampling an entire population, which may be impractical due to the population’s size and time requirements, a small sample of people that are similar to the larger population can be sampled instead. From this small sample, facts can be derived about the larger population.

As an example, upper management wants to survey its 10,000 employees. Rather than send out 10,000 surveys, 500 can be sent to accomplish the same goal. It’s important that the sample takes into consideration any groups within the population. If 50% of the population are male and 50% are female, the sample should represent this same grouping.


Manage risk and help maximize opportunity

What is Investment Property Wealth Management?

Download the eBook