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    ALP On Quantitative Techniques For Business Decision Making: Topic: Testing of Compounds Sampling Techniques Used

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    ALP On Quantitative Techniques For Business Decision Making: Topic: Testing of Compounds Sampling Techniques Used

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    ALP On Quantitative Techniques For Business Decision Making: Topic: Testing of Compounds Sampling Techniques Used

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    of 9

    ALP on Quantitative

    Techniques for
    Business Decision
    Making
    Topic: Testing of compounds
    Sampling techniques used
    - By Indraneel
    Mitra
    Reg. No.: 1223PGDME719
    Roll No.: PGDME24219
    List Of
    Contents

    L
    1. Introduction of sampling

    2. Importance of sampling

    3. Types of sampling techniques

    4. Which one is better??

    5. Problem Statement

    6. Description and selection of one


    technique
    Presentation title: 7. Conclusion
    ALP on Quantitative Techniques for Business Decision
    Making
    Sampling refers to some part of total population in
    which total property or nature of the population
    exists..

    Importance of sampling:

     Less time consuming

     Cost effective
    Introductio  More practical to handle
    n  Most accurate

    Presentation title:

    ALP on Quantitative Techniques for Business


    Decision Making
    Types of Sampling Techniques
    Sample

    Non Probability Probability


    sample sample

    Judgement Chunk

    Quota

    Simple Random Systematic Stratified Cluster

    Presentation title: ALP on Quantitative Techniques for Business Decision


    Making
    Which Sampling technique is
    better??
    As non- probability sampling method consists:
     Full of biasness and depends of people to people opinion (Judgement Sampling –
    Not taken)
     Lack of general property ( Quota Sampling - Not taken)
     Increases sampling error (Chunk Sampling – Not taken)

    Lets delve into the Probability sampling Method:

     Random Sampling: Every member of the population has an equal chance of being
    selected.
     Systematic Sampling: Every nth member of the population is selected after a
    random starting point.
     Stratified Sampling: The population is divided into strata, and random samples
    are taken from each stratum.
     Cluster Sampling: The population is divided into clusters, and entire clusters are
    randomly selected for the sample.
    Presentation title: ALP on Quantitative Techniques for Business
    Decision Making
    Problem
    Statement:
    In a school in Class IX there are 150 no of student. Among
    them only 10 student to be selected for international
    science competition . What is the best method for selection
    of student as a representor of school as well as nation?
     Simple Random Method: In random method there was a
    probability of selection of non deserving candidate , So this
    method – Not taken
     Systematic Sampling Method: first divide students in 10
    group w.r.to their roll no. and each group contains 15 students.
    And then randomly select 1 student. Is the selection method is
    good ?? No , obviously their will be chances of selection of non
    deserving candidate. So this method also – Not taken

    Presentation title: ALP on Quantitative Techniques for


    Business Decision Making
     Systematic Sampling Method: In this method three
    separate group is made where students who got 90-100
    marks in mathematics ,science and general knowledge is
    separated.
    Mathematics : 50 students
    Science : 60 students
    General Knowledge: 40 students

    Some of them got 90-100 marks in mentioned two or three


    subjects.
    Then random selection is being done, and 10 student got
    chance.
    This method is fair enough to decide the right candidate.
    This method is taken for selection .

    Presentation title: ALP on Quantitative Techniques for Business


    Decision Making
     Cluster Sampling Method: Make 10 groups having
    student who got 90-100 marks divided them in each group
    equally and then random selection happens. Is the selection
    method is good ?? No , obviously their will be chances of
    selection of non deserving candidate. So this method also –
    Not taken

    Conclusion:
    Stratified sampling method is the right technique for
    sampling.

    Presentation title: ALP on Quantitative Techniques for Business


    Decision Making
    Thank
    you
    Indraneel Mitra

    Reg. No.:
    1223PGDME719

    Roll No.: PGDME24119

    [email protected]

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