discuss the various factors which affects the size of sample
Various factors that affect the size of a sample are as follows.
1) Margin of error - It determines to the accuracy with which the estimate of a single sample represents the whole population. The margin of error gets smaller and smaller with the increasing size of the sample. Therefore, size of sample is taken by considering the acceptable value of margin of error.
2) Level of confidence - It refers to the probability of getting the estimates of population within the given margin of error. If the required confidence level increases, sample size will increase and vice-versa.
3) Size of population - If the population size is big, then a bigger sample would have to be drawn for accurate estimates and vice- versa.
1) Margin of error - It determines to the accuracy with which the estimate of a single sample represents the whole population. The margin of error gets smaller and smaller with the increasing size of the sample. Therefore, size of sample is taken by considering the acceptable value of margin of error.
2) Level of confidence - It refers to the probability of getting the estimates of population within the given margin of error. If the required confidence level increases, sample size will increase and vice-versa.
3) Size of population - If the population size is big, then a bigger sample would have to be drawn for accurate estimates and vice- versa.