Suppose you are a market researcher conducting a study to determine the average household income in Durban North. Your budget allows you to survey only 500 households out of the 50,000 households in that particular suburb. Explain how you would use random sampling to select your sample focusing upon the potential sources of bias and error that may arise in the process

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Suppose you are a market researcher conducting a study to determine the average household income in Durban North. Your budget allows you to survey only 500 households out of the 50,000 households in that particular suburb. Explain how you would use random sampling to select your sample focusing upon the potential sources of bias and error that may arise in the process

 

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