Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Determining Sample Size for estimatingMeans
a.Acceptable Errors: There may be several errors in the sample size. The researcher will have to decide those errors. Which may be acceptable to the executive. For example if the marketing executive desires to spends Rs.10,000 per month on advertisement he may willingly spend ± 10 % of the said expenditure. The deviation is decided on the basis of the acceptable mean of ten expenditure. A large size error would be unacceptable. Therefore ten management will have to determine various errors related to the sampling procedures. How many errors will be acceptable to management are decided before planning the sampling.
b.Confidence Level :The next factor influencing the sample size is deciding the confidence level. The larger the size of the sample the larger will be the confidence level of the estimate. In case of a 100 percent sample of the population the confidence of the estimate will be a 100 percent accurate. But the study of all elements of the population will too costly and impractical. Therefore a smaller size sample is selected for calculating the estimate. In practice the management may decide on a 90 percent 95 percent or 99 percent confidence level. Ac confidence level of 95 percent is desirable for all purposes. The remaining 5 percent risk is acceptable. Depending on a 95 percent confidence level, the size of he sample may be determined. In case of the estimate size of sample is decided by the followings formula.
x = s/ √n
Where x is the estimate of the standard error of the man and S is the sample standard deviation and is the size of he sample. We have seen that ± 2 x as the interval at 95.45 confidence level to decide a specific estimate. If we assume that we want ± 10 % of the estimate the would be :
But in practice, the standard deviation of the sample is unknown before selection of the sample. If is a typical case. The researcher tries to known from past studies.
Operation Research may be regarded as a tool which is utilized to increase the effectiveness of the management decisions. O R is objective supplement to the subjective feeling
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
give real data & find out the inventory & give suggestions
Formulation of the Problem: Before proceeding to find the solution of a problem, first of all a manager should be competent enough to form an appropriate model. To do so f
What is The proper meaning of action phase will u help me to lern it in deeply????
Uses of Mode The use of the mode is recommended in the following situations: a.When a quick and approximate measures of central tendency desired. b.When the measure
#question:explain the theory of dominance in the solution of rectangular games?
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
#A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
Uses of Mean Deviation Mean Deviation is rarely being used as a measure of dispersion. But due to easy and simplicity in calculation. It is rather useful in busin
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd