Sampling methods-II
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Advanced Bank Management — CAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
What is systematic sampling?
Systematic sampling selects every k-th element from a population list after a random start. The sampling interval k is determined by dividing the population size by the desired sample size.
What is the primary disadvantage of convenience sampling?
Results may be biased and not representative of population.
How is the sampling interval calculated in systematic sampling?
The sampling interval (k) is calculated as k = N/n, where N is the population size and n is the required sample size.
What is random sampling error?
Difference between sample estimate and true population value.
What is the main advantage of systematic sampling over simple random sampling?
Systematic sampling is easier to implement and less time-consuming since it requires only one random selection to determine the starting point, after which every k-th unit is chosen automatically.
What is non-sampling error in surveys?
Error arising from data collection, measurement, or processing mistakes.
What is stratified sampling?
Stratified sampling divides the population into homogeneous subgroups called strata and then draws random samples from each stratum to ensure representation of all segments.
What is proportional allocation in stratified sampling?
Sample size in each stratum proportional to stratum population size.
Video classes for this chapter
More chapters in Module A - Statistics
Master the full ABM syllabus
Every chapter of Advanced Bank Management — videos, tests, notes and one-liner decks in one place.