You have been asked to select a 10 per cent sample of firms from the sampling frame
Question:
You have been asked to select a 10 per cent sample of firms from the sampling frame used for self-check question 7.3.
a. Select a 10 per cent systematic random sample and mark those firms selected for the sample on the sampling frame.
b. Calculate the average (mean) annual output in tens of thousands of pounds over the past year for your sample.
c. Given that the true average annual output is £6,608,900, why does systematic random provide such a poor estimate of the annual output in this case?
Data from in self-check question 7.3
You have been asked to select a sample of manufacturing firms using the sampling frame below. This also lists the value of their annual output in tens of thousands of pounds over the past year. To help you in selecting your sample the firms have been numbered from 1 to 100.
Step by Step Answer:
Research Methods For Business Students
ISBN: 9781292208787
8th Edition
Authors: Mark Saunders, Philip Lewis, Adrian Thornhill