Chapter Eleven Sample Size Determination Chapter Eleven.

Slides:



Advertisements
Similar presentations
Mean, Proportion, CLT Bootstrap
Advertisements

Sampling: Final and Initial Sample Size Determination
Sampling Distributions (§ )
Chapter 10: Sampling and Sampling Distributions
Topics: Inferential Statistics
DATA ANALYSIS I MKT525. Plan of analysis What decision must be made? What are research objectives? What do you have to know to reach those objectives?
Determining the Size of
Measures of Dispersion
Business Research Methods William G. Zikmund Chapter 17: Determination of Sample Size.
Determining the Size of a Sample
Determining the Size of
Exploring Marketing Research William G. Zikmund
Chapter 6: Sampling Distributions
Determining Sample Size
Sampling: Theory and Methods
Go to Index Analysis of Means Farrokh Alemi, Ph.D. Kashif Haqqi M.D.
Essentials of Marketing Research
Unit 3 Section 3-3 – Day : Measures of Variation  Range – the highest value minus the lowest value.  The symbol R is used for range.  Variance.
Marketing Research Aaker, Kumar, Day Seventh Edition Instructor’s Presentation Slides.
Chapter Nine Copyright © 2006 McGraw-Hill/Irwin Sampling: Theory, Designs and Issues in Marketing Research.
F OUNDATIONS OF S TATISTICAL I NFERENCE. D EFINITIONS Statistical inference is the process of reaching conclusions about characteristics of an entire.
Chapter 11: Estimation Estimation Defined Confidence Levels
Learning Objectives Copyright © 2004 John Wiley & Sons, Inc. Sample Size Determination CHAPTER Eleven.
Population All members of a set which have a given characteristic. Population Data Data associated with a certain population. Population Parameter A measure.
MARKETING RESEARCH ESSENTIALS WITH DATA ANALYSIS IN EXCEL AND SPAA McDaniel │ Gates │ Sivaramakrishnan │ Main Chapter Twelve: Sample Size Determination.
Chapter Twelve Census: Population canvass - not really a “sample” Asking the entire population Budget Available: A valid factor – how much can we.
Business Research Methods William G. Zikmund Chapter 17: Determination of Sample Size.
Learning Objectives Copyright © 2002 South-Western/Thomson Learning Sample Size Determination CHAPTER thirteen.
University of Ottawa - Bio 4118 – Applied Biostatistics © Antoine Morin and Scott Findlay 08/10/ :23 PM 1 Some basic statistical concepts, statistics.
Describing Behavior Chapter 4. Data Analysis Two basic types  Descriptive Summarizes and describes the nature and properties of the data  Inferential.
Slide 1 © 2002 McGraw-Hill Australia, PPTs t/a Introductory Mathematics & Statistics for Business 4e by John S. Croucher 1 n Learning Objectives –Identify.
Chapter 7: Sampling and Sampling Distributions
1 MARKETING RESEARCH Week 5 Session A IBMS Term 2,
Measures of central tendency are statistics that express the most typical or average scores in a distribution These measures are: The Mode The Median.
Sullivan – Fundamentals of Statistics – 2 nd Edition – Chapter 3 Section 2 – Slide 1 of 27 Chapter 3 Section 2 Measures of Dispersion.
July, 2000Guang Jin Statistics in Applied Science and Technology Chapter 7 - Sampling Distribution of Means.
Determination of Sample Size: A Review of Statistical Theory
8 Sampling Distribution of the Mean Chapter8 p Sampling Distributions Population mean and standard deviation,  and   unknown Maximal Likelihood.
Determining the Size of a Sample 1 Copyright © 2014 Pearson Education, Inc.
What does Statistics Mean? Descriptive statistics –Number of people –Trends in employment –Data Inferential statistics –Make an inference about a population.
Chapter Thirteen Copyright © 2004 John Wiley & Sons, Inc. Sample Size Determination.
CpSc 881: Machine Learning Evaluating Hypotheses.
Learning Objective Chapter 12 Sample Size Determination Copyright © 2000 South-Western College Publishing Co. CHAPTER twelve Sample Size Determination.
Confidence Interval Estimation For statistical inference in decision making:
Statistics and Quantitative Analysis U4320 Segment 5: Sampling and inference Prof. Sharyn O’Halloran.
Review of Basic Statistical Concepts. Normal distribution Population Mean: μ and Standard Deviation: σ.
CONFIDENCE INTERVALS.
Sample Size Determination Determining Sample Size for Probability Samples Determining sample size for probability samples involves financial, statistical,
Unit 2 Section 2.4 – Day 2.
Sampling Fundamentals 2 Sampling Process Identify Target Population Select Sampling Procedure Determine Sampling Frame Determine Sample Size.
CHAPTER 13 DETERMINING THE SIZE OF A SAMPLE. Important Topics of This Chapter Different Methods of Determining Sample size. Standard Normal Distribution.
The Normal Probability Distribution. What is a distribution? A collection of scores, values, arranged to indicate how common various values, or scores.
Political Science 30: Political Inquiry. The Magic of the Normal Curve Normal Curves (Essentials, pp ) The family of normal curves The rule of.
Sampling and Sampling Distributions. Sampling Distribution Basics Sample statistics (the mean and standard deviation are examples) vary from sample to.
 Normal Curves  The family of normal curves  The rule of  The Central Limit Theorem  Confidence Intervals  Around a Mean  Around a Proportion.
CHAPTER 6: SAMPLING, SAMPLING DISTRIBUTIONS, AND ESTIMATION Leon-Guerrero and Frankfort-Nachmias, Essentials of Statistics for a Diverse Society.
Essentials of Marketing Research William G. Zikmund
Introduction to Marketing Research
Chapter 6: Sampling Distributions
Confidence Intervals and Sample Size
Measures of Dispersion
Sample Size Determination
Chapter 6: Sampling Distributions
LEARNING OUTCOMES After studying this chapter, you should be able to
4 Sampling.
Sampling Fundamentals 2
Estimation Goal: Use sample data to make predictions regarding unknown population parameters Point Estimate - Single value that is best guess of true parameter.
Sampling.
Determining the Size of a Sample
BUSINESS MARKET RESEARCH
Presentation transcript:

Chapter Eleven Sample Size Determination Chapter Eleven

Chapter Eleven Objectives To learn the financial and statistical issues in the determination of the sample size. To discover methods for determining the sample size. To gain an appreciation of a normal distribution of data. To understand population, sample, and sampling distributions. To distinguish between point and interval estimates. To recognize problems involving sampling means and proportions. Chapter Eleven

Sample Size for Probability Samples Census: Population canvas - not really a “sample” Asking the entire population Judgment: Best guess of “experts” Draw on your experience to determine sample size Conventional: What have others done? See what the sample size has been for similar studies Chapter Eleven

Arbitrary / Rule of Thumb: Applies some industry accepted “rule of thumb” Generally better for smaller populations Picking “x” percent of the population to be in the sample Budget Available: What can we afford? How much do we want to spend? How much time are we allotting for each respondent Statistical: Variance, SD, confidence interval play a key role Sample Size for Probability Samples Chapter Eleven

Central Limit Theorem: The idea that a distribution of a large number of sample means or sample proportions will approximate a normal distribution - regardless of the distribution of the population from which they were drawn. Normal Distribution: The continuous distribution that is bell shaped and symmetrical about the mean. The mean, median, and mode are equal. About 68% of the observations are within +/- one standard deviation, 96% are within two standard deviations, and 99+% are within three standard deviations of the mean. The Normal Distribution Chapter Eleven

Proportionate Properties: A feature that the number of observations falling between the mean and a given number of standard deviations from the mean is the same for all normal distributions. Standard Normal Distribution: Normal distribution with a mean of zero and a standard deviation of one. The Normal Distribution Chapter Eleven

Standard Deviation: The measure of dispersion calculated by subtracting the mean of the series from each value in a series, squaring each result, summing the results, dividing the sum by the number of observations minus 1, and taking the square root of this value. The Normal Distribution Chapter Eleven

Population Distributions: The frequency distribution of all the elements of a population. Sampling Distributions: The frequency distribution of all the elements of an individual sample. Population and Sampling Distributions Chapter Eleven

Sampling Distribution of the Mean: The theoretical frequency distribution of the means of all possible samples of a given size drawn from a particular population; it is normally distributed. Standard Error of the Mean: Standard deviation of a distribution of sample means. Sampling Distribution of the Mean Chapter Eleven

Point Estimate: The particular estimate of a population value. Interval Estimate: The interval or range of values within which the true population value is estimated to fall. Point and Interval Estimates Chapter Eleven

Confidence Level: The probability that a particular interval will include the true population value - also called the confidence coefficient. Confidence Interval: The interval that, at the specified confidence level, includes the true population value. Point and Interval Estimates Chapter Eleven

Sampling Distribution of the Proportion: The relative frequency distribution of the sample proportions of many random samples of a given size drawn from a particular population; It is normally distributed. Sampling Distribution of the Proportion Chapter Eleven

N = Sample Size Z = level of confidence desired in the results. A 95% confidence interval would make Z=1.96. In other words, if we conduct this survey 100 times, at least 95 of those time the true population average would fall within out interval estimate. = Population standard deviation. e = error rate - a management decision (ex. plus or minus 3%) N = Sample Size Z = level of confidence desired in the results. A 95% confidence interval would make Z=1.96. In other words, if we conduct this survey 100 times, at least 95 of those time the true population average would fall within out interval estimate. = Population standard deviation. e = error rate - a management decision (ex. plus or minus 3%) Problems Involving Means: Determining Sample Size Chapter Eleven

Problems Involving Proportions: N = Sample Size Z = level of confidence desired in the results. A 95% confidence interval would make Z=1.96. In other words, we would by 95% confident that the average results in the whole population (were we to survey the whole population) would be within 1.96 standard deviations from the mean. p = variance (how different you predict the population is), q = 100-p e = error rate - a management decision (ex. plus or minus 3%) N = Sample Size Z = level of confidence desired in the results. A 95% confidence interval would make Z=1.96. In other words, we would by 95% confident that the average results in the whole population (were we to survey the whole population) would be within 1.96 standard deviations from the mean. p = variance (how different you predict the population is), q = 100-p e = error rate - a management decision (ex. plus or minus 3%) Determining Sample Size Chapter Eleven

To revise down your original sample size while maintaining the same level of accuracy. This technique is good for small populations. Determining Sample Size Chapter Eleven

You need to over sample since it’s unlikely that everyone you contact will agree to answer the questionnaire. If you determine that you need 800 respondents in the survey (RSS), and a typical response rate for your type of survey is 30%, then use the calculations to below to get the number of people you would actually have to contact to get 800 completed responses. Determining Sample Size Chapter Eleven

Time to Generate Sample Scope of the Research Budget Available Experience with Sampling Level of Accuracy Desired Your Knowledge of the Population Key Sampling Considerations Chapter Eleven

Finite Multiplier Normal Distribution Over Sampling Sample Size Determination Index