New Enroll for RBI, SEBI & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Which of the following strategies helps reduce sampling

    bias?
    A Choosing a sample based on the easiest available data points Correct Answer Incorrect Answer
    B Using only historical data for sampling Correct Answer Incorrect Answer
    C Ensuring all population members have an equal chance of selection Correct Answer Incorrect Answer
    D Selecting data points that best support the hypothesis Correct Answer Incorrect Answer
    E Collecting samples from a single source or location Correct Answer Incorrect Answer

    Solution

    Reducing sampling bias requires giving each population member an equal probability of being selected, a hallmark of random sampling techniques. This approach minimizes the likelihood of overrepresenting or underrepresenting certain groups within the sample, resulting in more reliable and accurate findings. By using unbiased sampling methods, analysts can ensure that the sample better reflects the population, leading to more generalizable results. Option A is incorrect because selecting the easiest data points is a form of convenience sampling, which introduces bias. Option B is incorrect as relying only on historical data may not reflect current or future trends, leading to bias. Option D is incorrect because selecting data that aligns with a hypothesis introduces confirmation bias. Option E is incorrect since samples from a single location may not represent a diverse population, leading to geographic bias.

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