The Students for an Affordable Education have asked you to estimate the average amount of money spent
Question:
The Students for an Affordable Education have asked you to estimate the average amount of money spent per semester on textbooks. To produce this estimate, you have decided to randomly sample 25 members of your Introduction to Economics course. Are there any problems associated with this sample?
What other sampling techniques might you use?
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Step by Step Answer:
Problems associated with random sampling 25 members of Introduction to Economics 1 Nonrepresentativeness While random sampling helps avoid bias a sample size of 25 may not adequately represent the entire population of students especially if the class size is significantly larger 2 Selfselection bias Even with a random selection process students may be more likely to participate if they have strong opinions or specific experiences related to textbook spending eg students who buy used books may be more likely to participate This can skew the results 3 Convenience sampling bias If the 25 students are readily available due to factors like convenience eg those who stay after class rather than truly random selection it might not represent the overall population of students Alternative sampling techniques Stratified sampling Divide the population entire course into subgroups based on relevant characteristics eg year of study major and then randomly sample from each subgroup proportional to their size This ensures representation from different groups within the population Cluster sampling Divide the population into clusters eg sections within the course and randomly sample a few clusters Then include all students within those selected clusters in the sample This can be efficient if natural clusters exist but may not be as representative ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
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Related Book For 
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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