Stratified Sampling

                                                                                                                                                

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

5. Write short notes on any two of the following:- 

(b) Stratified Sampling

Stratified sampling is a sampling method used in statistics to ensure a representative sample of a population by dividing the population into subgroups, or strata, based on a specific characteristic or variable of interest. The strata are then sampled proportionally to their size in the population, and a sample is taken from each stratum. 

The purpose of stratified sampling is to reduce sampling error and improve the precision of estimates by ensuring that each stratum is represented in the sample. By dividing the population into strata, variations within each stratum can be reduced, and the sampling error can be minimized. Stratified sampling is particularly useful when the variable of interest has high variability within the population, and when the population is heterogeneous.

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