Question 1 (10 marks)

Probabilities measure the likelihood of the occurrence of events, and in practice, there are different methods to assign probabilities.

1.Based on the content you learned, discuss the main methods used to assign probabilities.

2.In real-world decision-making, can we rely on any single method, or do they vary based on the situation for which we need to assign probabilities? Justify your answer.

Question.2

Urban Insight Research requires expert advice on selecting optimal sampling plans for their data collection initiatives in the following research scenarios.

Scenario

1. A research to review the public sentiment regarding COVID-19 annual booster vaccination.
2. A research to assess the socioeconomic status of residents in rural areas of Victoria, Australia.

Required:

For each scenario, you are required to:

1. Discuss at least two alternative sampling methods,
2. Explain the significance of each method in the context of the research,
3. Describe the sampling process using hypothetical data for both population and sample, and
4. Identify and justify the most suitable sampling method for the scenario.