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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Sampling
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?
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.
Right professor. And professor one more request that can you please differentiate between Quota and Stratified sampling?
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.
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.
That is correct.
