what is randam sampling ? explain briefly . in economics
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Random sampling is a part ofthe sampling technique in which eachsample has an equal probability of being chosen. ... Under random sampling, each member of the subset carries an equal opportunity of being chosen as a part ofthe sampling process.
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Random sampling is one of the simplest forms of collecting data from the total population. Under random sampling, each member of the subset carries an equal opportunity of being chosen as a part of the sampling process.
For example, the total workforce in organisations is 300 and to conduct a survey, a sample group of 30 employees is selected to do the survey. In this case, the population is the total number of employees in the company and the sample group of 30 employees is the sample.
Each member of the workforce has an equal opportunity of being chosen because all the employees which were chosen to be part of the survey were selected randomly. But, there is always a possibility that the group or the sample does not represent the population as a whole, in that case, any random variation is termed as a sampling error.
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