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This lesson covers the second part of AQA A-Level Business topic 3.3.2, focusing on sampling methods, correlation, confidence intervals, and extrapolation. Understanding these concepts is essential for interpreting market research data and evaluating the reliability of business decisions based on that data.
Key Definition: Sampling is the process of selecting a subset of individuals from a larger population in order to make inferences about the whole population. A sample is a group chosen to represent the target population.
Businesses cannot survey every potential customer (a census would be too expensive and time-consuming), so they select a sample. The quality of the research depends critically on the sampling method used.
| Reason | Explanation |
|---|---|
| Cost | Surveying the entire population is prohibitively expensive |
| Time | A sample can be researched much faster than the whole population |
| Practicality | It may be impossible to identify or contact every member of the population |
| Sufficiency | A well-chosen sample can provide reliable results — it does not need to include everyone |
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