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At the beginning of this year, the portfolio included 100,000 loans in various stages of the foreclosure process. In the last 4 months, there has

  • At the beginning of this year, the portfolio included 100,000 loans in various stages of the foreclosure process.
  • In the last 4 months, there has been a significant increase in the portfolio, as presented in the following table:

Month

January

February

March

April

% increase

5%

10%

15%

20%

Total # of loans

105,000

115,500

132,825

159,390

  • The department currently employs 50 employees and has a huge backlog. The department quickly needs to hire more people, but the management does not know how many. This report should help resolve this problem quickly.

not sure what formula of sampling should I use to determine how many people we should hire based off the various sampling approaches (e.g., large sample, small sample, convenience sample, and so forth). Apprise each of them, and select the one that you intend to use. Justify your recommendation.

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