MKTG 315 - Final Exam (with Complete Solutions)

Sampling? (CH 8) correct answers Process of choosing a group of individuals to survey Sample? (CH 8) correct answers The group of individuals chosen; businesses, individuals, objects Population? (CH 8) correct answers The group from which the sample is drawn; can vary widely, range from a few people to million Census? (ch 8) correct answers The entire population is surveyed; not practical for two reasons: 1) Too much time and money 2) not very accurate Good for small populations; large populations can suffer from non-response bias; either cant find them and/or can't secure participation Steps in Selecting a Sample? (ch 8) correct answers 1) Define the population 2) Identify the sample frame 3) Choose a sampling procedure 4) Decide on the sample size 5) Select the sample Defining the Population? (ch 8) correct answers -Population definition should include: -Characteristics of those who should be studied -Characteristics/groups to be excluded -Population can people, stores, businesses, objects -Incidence (% eligible to participate) determine by population definition -Broad definitions - higher incidence -Restricted definitions - lower incidence: more restrictions or exclusions, more difficult it will be to locate sample respondents cuz of a lower percentage of the population will meet all the criteria The simpler the population the? (ch 8) correct answers the higher the incidence and less costly it will be to locate an appropriate sample Identify the Sample Frame? (ch 8) correct answers -List of people or objects from which the sample will be drawn -Sample frames rarely match the population perfectly -Goal is to include most population elements -May require merging various lists and purging duplicate entries -Building telephone-based sample frames is challenging -USPS delivery sequence file can be used for mail surveys Choose a sampling procedure? (ch 8) correct answers 1) Probability sample -Known and nonzero chance of being selected