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In: Accounting

Question 2 "The nice thing about sampling is that the only possible problem you have is...

Question 2

"The nice thing about sampling is that the only possible problem you have is that you might pull the wrong item. For example, maybe you were supposed to pull item number 97 for testing, and instead you pulled item 79, or item 96. But once you pull the correct sample, there are no more problems."

Required:

Do you agree or disagree with the preceding material? Why?

Solutions

Expert Solution

Answer : -

No, I disagree with the preceding material. In sampling there are more other problems and pulling the wrong item is one of the problem.

Following are the problems with sampling : -

1) Limitations of the samples. : - the one of the problem with sampling is the limitations of the samples. the limitations on the samples leads to incorrect conclusions about the samples.

2) Difficulty in selecting a samples : - in sampling it is not easy to select a good sample which can represent the whole batch of items. If the sample selected is not good it may lead to wrong conclusion.

3) Inadequate knowledge about the subject : - in sampling techniques, the knowledge about the subject play an important role. If the knowledge about the subject is not enough it will lead to wrong conclusions.

4) Impossible to have samples : - it is not possible to have samples of the each and every item. The sampling technique does not work in each and every production or company or survey.

5) Wrong samples : - if the wrong sample is selected for sampling the report or conclusions will be based on wrong samples.


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