--%>
Assignment Help - homework help

Define Optimal Sample Size

Optimal Sample Size: The optimal or suitable size of sample in a survey or poll is the function of four discrete factors:

1. Size of the population: The size of the source population matters a lot. Usually, as the needed sample gets bigger the source population rises, apart from it will raise at a declining rate. Likewise, as the source population gets smaller, special adjustments have to be made.

2. Segmentations desired: Usually, we analyze the source population as an entire, however sometimes one might want to make sure it is representative of the demographic or other distributions in the source population. The more you wish for to segment the outcomes, the larger the sample might require to be.

3. Degree of variance in responses from the population: If the respondents' responses tend to be tightly clustered, then we do not require to sample as many people to acquire the same confidence as we would when the responses range broadly. However until we do some surveying and analyze the data, we won’t know the variance. In such cases, we should set a conservative assumption about the variance.

4. Tolerance for error: The more confident you want to be about the results, the larger the sample.

   Related Questions in Microeconomics

  • Q : Price ceilings causes shortages of a

    When price ceilings cause shortages of a good in that case the good tends to be: (1) replaced by substitutes by many consumers. (2) allocated by several non price mechanism. (3) more valuable to consumers than the money prices charged

    		•
  • Q : Long-run equilibrium price and output

    Long-run output and equilibrium price combinations describe a purely competitive industry’s: (w) demand curve. (x) long-run supply curve. (y) expansion path. (z) contract curve. I need a good answer on the to

    		•
  • Q : In the quintile distribution of income

    In the quintile distribution of income, the term "quintile" represents

    		•
  • Q : Levels of output by monopolistic

    Monopolistic competitors generate levels of output which are: (w) more than socially optimal and equitable. (x) economically efficient. (y) where marginal social benefits exceed marginal social costs. (z) certain to generate economic profits.

  • Q : Problem on income and substitution

    Jim a vegetarian. All he eats is lettuce and cheese. His original budget constraint and utility maximizing bundle are illustrated in the graph shown below: 1531</span></p> </div> <!-- /comment-box --> </li> </td> </tr><tr> <td> <li> <div class=

    Q : Persistent range of output by economies

    When economies of scale are persistent across the range of output which people might feasibly purchase, in that case: (w) pure competition is the most efficient market structure. (x) competition will prevent monopolization of the industry. (y) competi

    		•
  • Q : Comparable the changes in TC and TVC

    Tell me the answer of this question. In comparing the changes in TC and TVC associated with an additional unit of output, we discover that: A) the change in TVC is equal to MC, while the change in TC is equal to TFC. B) the change in TC exceeds the change in TVC. C) t

    		•
  • Q : Supply of curve in the short run I have

    I have a problem in economics on Supply of curve in the short run. Please help me in the following question. The supply curve of milk would shift in the short-run in response to the modification in: (i) Price of the milk. (ii) Demand for the milk. (iii) Numbers and si

    		•
  • Q : Define change in demand Change in

    Change in demand: When change in demand takes place due to change in factor other than price, it is termed as change in demand.

    		•
  • Q : Problem on effect of a price decrease

    1. Is it possible for any country to have made gains in access (at the expense of quality) of their rural healthcare system, without any gains in efficiency?  Explain using a PPF diagram.2. If the own price elasticity for a good is -2.5, what is the l

    		•