New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Which of the following factors should primarily determine the sample size in a data analysis project?

    A The statistical power required for the analysis Correct Answer Incorrect Answer
    B The number of variables in the dataset Correct Answer Incorrect Answer
    C The amount of funding available Correct Answer Incorrect Answer
    D The ease of data collection Correct Answer Incorrect Answer
    E The researcher’s preference for large datasets Correct Answer Incorrect Answer

    Solution

    The sample size in data analysis should be determined primarily by the statistical power necessary to detect meaningful effects or relationships within the data. Statistical power reflects the probability of correctly rejecting a false null hypothesis (i.e., avoiding a Type II error). A larger sample size increases statistical power, making it easier to detect small effects or differences, especially in complex analyses. In practice, sample size decisions often consider factors like desired confidence level, effect size, and population variability. This systematic approach ensures reliable, valid results, supporting sound conclusions and generalizable insights. The other options are incorrect because: • Option 2 (number of variables) can influence data complexity but does not directly determine sample size. • Option 3 (funding) may constrain data collection but should not solely dictate sample size. • Option 4 (ease of collection) affects feasibility, yet does not ensure adequate statistical power. • Option 5 (preference) is subjective and does not account for the methodological rigor needed in analysis.

    Practice Next