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Sampling

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Sampling

  • This topic has 5 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • January 8, 2022 at 1:37 pm #645509
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    In your lecture videos, you said that “know the whole population” at 6:55 in the video.
    I am unclear that if we have much time to know the whole population so why need to take sample?

    January 8, 2022 at 2:59 pm #645514
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54704
    • ☆☆☆☆☆

    It does not mean that we know about each individual item in the population. It means, for example, we know haw many items there are in the population and (again for example) what % fall into each category such as whether they are male or female.

    January 8, 2022 at 3:13 pm #645515
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    Right professor. And professor one more request that can you please differentiate between Quota and Stratified sampling?

    January 9, 2022 at 10:49 am #645527
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54704
    • ☆☆☆☆☆

    With stratified sampling we are selecting at random within each of the groups.

    With quota sampling we are selecting as items appear until the quota is achieved for each group.

    See the examples of both in the notes and lectures.

    January 9, 2022 at 1:18 pm #645537
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    Yes professor. Thank you.
    You mean to say that in quota we just predetermine the quota and then ask every single person (item) until we complete the required quota. While in Stratified, we divide into groups and make sample according to the composition of each group. After that, we ask each item at random.

    January 9, 2022 at 3:23 pm #645544
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54704
    • ☆☆☆☆☆

    That is correct.

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Viewing 6 posts - 1 through 6 (of 6 total)
  • The topic ‘Sampling’ is closed to new replies.

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