IB Business Management Topic 4.4.5 Sampling Methods Revision Notes (SL/HL)

IB Business Management Topic 4.4.5 Sampling Methods Revision Notes (SL/HL) | RevisionDojo

Written by official IB examiners

Quota Sampling, Random Sampling, and Convenience Sampling

Sampling helps save time and resources while still providing insights that can guide business decisions, such as market research or employee surveys.
If chosen correctly, a sample should represent the larger population accurately, allowing managers to make reliable inferences.

Definition

Sampling

Sampling is the process of selecting a subset of individuals from a larger population to gather data and insights.

Quota Sampling: Ensuring Representation

Definition

Quota sampling

Quota sampling involves selecting participants based on specific traits or characteristics, ensuring the sample reflects the proportions of these traits in the target population.

How It Works

Identify Key Traits: Determine the characteristics important for your research, such as age, gender, income, or occupation.
Set Quotas: Establish quotas for each trait based on their proportions in the target population.
Select Participants: Choose participants who fit these quotas until they are filled.

Example

If 60% of your target market is female and 40% is male, your sample should reflect this distribution.

Advantages of Quota Sampling

Cost-Effective and Quick: Quota sampling is faster and less expensive than methods like random sampling.
Ensures Representation: By focusing on key traits, it helps create a sample that mirrors the target population.

Drawbacks of Quota Sampling

Potential Bias: The selection process can be subjective, leading to biased results.
Limited Generalizability: Since participants are not chosen randomly, findings may not apply to the entire population.

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

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Note

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Excepteur sint occaecat cupidatat non proident

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Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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Quota Sampling, Random Sampling, and Convenience Sampling

Sampling helps save time and resources while still providing insights that can guide business decisions, such as market research or employee surveys.
If chosen correctly, a sample should represent the larger population accurately, allowing managers to make reliable inferences.

Definition

Sampling

Sampling is the process of selecting a subset of individuals from a larger population to gather data and insights.

Quota Sampling: Ensuring Representation

Definition

Quota sampling

Quota sampling involves selecting participants based on specific traits or characteristics, ensuring the sample reflects the proportions of these traits in the target population.

How It Works

Identify Key Traits: Determine the characteristics important for your research, such as age, gender, income, or occupation.
Set Quotas: Establish quotas for each trait based on their proportions in the target population.
Select Participants: Choose participants who fit these quotas until they are filled.

Example

If 60% of your target market is female and 40% is male, your sample should reflect this distribution.

Advantages of Quota Sampling

Cost-Effective and Quick: Quota sampling is faster and less expensive than methods like random sampling.
Ensures Representation: By focusing on key traits, it helps create a sample that mirrors the target population.

Drawbacks of Quota Sampling

Potential Bias: The selection process can be subjective, leading to biased results.
Limited Generalizability: Since participants are not chosen randomly, findings may not apply to the entire population.

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

IB Business Management 4.4.5 Sampling Methods Notes

IB Business Management 4.4.5 Sampling Methods Notes

Quota Sampling, Random Sampling, and Convenience Sampling

Quota Sampling: Ensuring Representation

How It Works

Advantages of Quota Sampling

Drawbacks of Quota Sampling

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Quota Sampling, Random Sampling, and Convenience Sampling

Quota Sampling: Ensuring Representation

How It Works

Advantages of Quota Sampling

Drawbacks of Quota Sampling

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

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IB Business Management 4.4.5 Sampling Methods Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 4.4.5 Sampling Methods Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Quota Sampling, Random Sampling, and Convenience Sampling

Quota Sampling: Ensuring Representation

How It Works

Advantages of Quota Sampling

Drawbacks of Quota Sampling

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Quota Sampling, Random Sampling, and Convenience Sampling

Quota Sampling: Ensuring Representation

How It Works

Advantages of Quota Sampling

Drawbacks of Quota Sampling

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account