Question

Describe the following methods of sample size determination:

- Arbitary “percent rule of thumb” sample size

- Conventional Sample size specification

- Statistical Analysis requirments sample size speecification

- Cost basis of sample size specification

Answer 1

• Arbitrary “percent rule of thumb” sample sizes:

Arbitrary “percent rule of thumb” is based on a rule that sample size ought to be a given % of the population. This method is straightforward and simple to apply, however, neither efficient nor conservative and also, it might dismiss the exactness or accuracy part of sampling.

• Conventional Sample size specification:

In view of utilizing a number trusted some who to be there right sample size. It could be based on sample sizes from national opinion polls, past organization studies, and so forth. This method is logical in nature but the shortcoming is that it expects that the managers need a precision around + or -3% and it accepts there is the most extreme inconstancy in the population.

• Statistical Analysis requirements sample size specifications:

Statistical Analysis requirements sample size specifications are based on an analyst's desire to see specific statistical strategies. The researchers wish to play out a specific type of data analysis that has sample size requirements.

• The cost basis of sample size specification:

“Everything you can bear or afford” Sample size controlled by spending factors or budgets instead of the value of information to be picked up. The researcher is compelled to remain inside the complete spending plan however can designate the money inside the different cost elements. The sample size is dictated by the budget factors.

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