DEFINITION of 'Sampling'
A process used in statistical analysis in which a predetermined number of observations will be taken from a larger population. The methodology used to sample from a larger population will depend on the type of analysis being performed, but will include simple random sampling, systematic sampling and observational sampling.
The sample should be a representation of the general population.
INVESTOPEDIA EXPLAINS 'Sampling'
When taking a sample from a larger population, it is important to consider how the sample will be drawn. To get a representative sample, the sample must be drawn randomly and encompass the entire population. For example, a lottery system could be used to determine the average age of students in a University by sampling 10% of the student body, taking an equal number of students from each faculty.
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What are some common financial sampling methods?
There are two areas in finance where sampling is very important: hypothesis testing and auditing. The type of sampling methods ... Read Full Answer >> 
What are the benefits of financial sampling?
Financial sampling allows auditors to approximate the rate of error within financial statements. For accounting purposes, ... Read Full Answer >> 
What is the criteria for a simple random sample?
Simple random sampling is the most basic form of sampling and can be a component of more precise, more complex sampling methods. ... Read Full Answer >> 
How can a representative sample lead to sampling bias?
A representative sample, like any other type of sample, by its very nature leads to a degree of sampling bias, or sampling ... Read Full Answer >> 
What are the advantages of using a simple random sample to study a larger population?
Simple random sampling is a method used to cull a smaller sample size from a larger population and use it to research and ... Read Full Answer >> 
What are the disadvantages of using a simple random sample to approximate a larger ...
Simple random sampling statistically measures a subset of individuals selected from a larger group or population to approximate ... Read Full Answer >>

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