Slovin's Formula: A Sampling Technique in MSME Surveys Quiz and Flashcards

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Questions and Answers

What sampling technique would be most effective for a Micro, Small, and Medium-sized Enterprise (MSME) operating in the food and beverage industry in Muntinlupa?

Quota Sampling

Convenience Sampling

Stratified Sampling (correct)

Systematic Sampling

What does Random Sampling involve in terms of population selection?

Choosing units from different subgroups with varying characteristics.

Dividing the population based on relevant characteristics before selecting samples.

Randomly selecting samples without categorizing them into subgroups or strata. (correct)

Selecting individuals based on specific characteristics.

Why is Random Sampling effective for the food and beverage industry in Muntinlupa?

It ensures representation from all types of food and beverage establishments. (correct)

It reduces the likelihood of bias in selecting samples.

It guarantees a higher response rate from the sampled establishments.

It simplifies the selection process for the researchers.

What is the advantage of using Random Sampling in the context of the food and beverage industry?

It offers a straightforward and unbiased representation of the entire MSME landscape. Signup and view all the answers

Which sampling technique is characterized by selecting individuals or units purely by chance?

Random Sampling Signup and view all the answers

In what way does Random Sampling provide simplicity in the selection process?

It ensures that each element in the population has an equal likelihood of being chosen. Signup and view all the answers

What is the purpose of using Slovin's Formula in determining the sample size?

To minimize the margin of error in the survey Signup and view all the answers

Why was a total of ninety-four (94) people selected for the survey?

To ensure a low margin of error Signup and view all the answers

What is the significance of selecting one person from each business for the survey?

It reduces bias in the survey results Signup and view all the answers

Why is it important to use a systematic approach like Slovin's Formula for determining the sample size?

To minimize errors and biases in the survey results Signup and view all the answers

What is the most suitable sample size (n) that should be determined using Slovin's Formula for the 1,481 MSMEs in the food industry in Muntinlupa, with a margin of error (e) of 5%?

79 Signup and view all the answers

Why might using a sample size of only ninety-four (94) people, one person from each business, be considered inadequate for the survey of 1,481 MSMEs?

It leads to higher sampling error due to a small sample size. Signup and view all the answers

Which of the following statements best describes the significance of using Slovin's Formula in determining the sample size for the survey?

It enables the estimation of population parameters with high precision. Signup and view all the answers

What could be a potential drawback of using random sampling as the main sampling technique for the MSMEs in the food industry in Muntinlupa?

It may lead to an unequal representation of different types of businesses within the industry. Signup and view all the answers

Study Notes

Sampling Techniques for MSMEs in Food and Beverage Industry

Random sampling is the most effective technique for MSMEs in the food and beverage industry in Muntinlupa, as it involves selecting individuals or units purely by chance from the population.

Characteristics of Random Sampling

Random sampling provides simplicity in the selection process, as it eliminates bias and ensures that each individual or unit has an equal chance of being selected.
It involves selecting individuals or units randomly from the population, which is essential for achieving a representative sample.

Slovin's Formula

Slovin's Formula is used to determine the sample size, which is essential for ensuring that the sample is representative of the population.
The formula is: n = N / (1 + (N * e^2)), where n is the sample size, N is the population size, and e is the margin of error.
The purpose of using Slovin's Formula is to determine the sample size required to achieve a desired level of precision, given a specified margin of error.

Sample Size Determination

For the survey of 1,481 MSMEs in the food industry in Muntinlupa, with a margin of error of 5%, the most suitable sample size (n) that should be determined using Slovin's Formula is larger than 94.
Selecting only one person from each business (94 people) might be considered inadequate for the survey, as it may not be representative of the entire population.

Advantages of Random Sampling

The advantage of using random sampling is that it provides a representative sample of the population, which is essential for making generalizations about the entire population.
Random sampling is effective for the food and beverage industry in Muntinlupa, as it allows for the selection of a representative sample from the population of MSMEs.

Potential Drawbacks of Random Sampling

A potential drawback of using random sampling as the main sampling technique is that it may not be possible to randomly select individuals or units from the entire population, which can lead to bias and inaccurate results.

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Description

Learn about sampling techniques used in surveys for Micro, Small, and Medium-sized Enterprises (MSME) through this quiz. Understand the concept of random sampling and its application in demand assessment surveys.

Sampling Techniques in MSME Surveys