Start learning 50% faster. Sign in now
Sampling is often preferred over using the entire population due to its efficiency in terms of time, cost, and resources. Instead of collecting and analyzing data from every individual in a population, a representative sample is chosen, which reduces the amount of data to be collected and processed. This is especially important when working with large populations where obtaining data from every individual is not feasible due to logistical or financial constraints. Sampling allows data analysts to make reliable inferences about the entire population without the significant investment of time and resources required for full data collection. Why Other Options Are Wrong : A) Incorrect : Sampling does not eliminate the need for data cleaning; the sampled data still needs to be cleaned and processed for analysis. C) Incorrect : While sampling reduces the size of the data, it does not guarantee 100% accuracy. Sampling introduces a margin of error, and results can vary depending on the sampling technique used. D) Incorrect : Sampling often requires more statistical analysis to account for sampling error and variability. It’s not necessarily simpler than analyzing an entire population. E) Incorrect : Sampling does not inherently remove bias. If the sampling method is flawed or biased, the sample can still lead to inaccurate results. Bias in sampling needs to be actively avoided through careful technique selection.
The bases of recognition of interest, dividend and rentals earned on investments are covered under which among the following AS?
RSP Ltd has a net profit margin of 12% and a total asset turnover of 1.2 times and a financial leverage multiplier of 1.2 times. RSP Ltd’s return on ...
Which of the following forms part of the ‘Planning’ function?
A) Forecasting
B) Choice among alternati...
You are given the following information. What will be the total of the prime cost?
In case the company has issued Bonus shares, which among the following ratios will be affected?
Which of the following bank facility allows a bank customer to withdraw more money than is currently available in his/her account ?
In a period of rising prices and stable inventory quantities, which of the following best describes the effect on gross profit of using LIFO as compare...
The purchase of bonds and shares of Indian companies by Foreign Institutional investors is known as___
The stand-by Letter of Credit (LC) or Bank Guarantee (BG) issued by scheduled commercial banks for Gold (Metal) Loans should be denominated in:
Which of the following is not available as an investment choice under the Active choice for NPS?