ACCA Applied Knowledge · Management Accounting · Sampling methods
Which of the following is a typical advantage of sampling over a full census of a large population?
The typical advantage is that sampling is usually quicker and cheaper than a census of the whole population. It does not guarantee unbiased results, it generally still needs a sampling frame, and it provides an estimate of the population parameter rather than the exact value.
- AIt eliminates the need for a sampling frame
- BIt guarantees an unbiased result
- CIt is usually quicker and cheaper to carry outCorrect
- DIt gives the exact population parameter
Explanation
Sampling reduces the time and cost of collecting data from a large population. Most sampling methods still need a frame, bias remains possible, and only a census gives the exact parameter.
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