In: Accounting
Distinguish between sampling and sample (Support your answer with example)
Answer-In statistics, a sample is a set, a population drawn by a particular set of rules from the universe of possibilities. Sampling is the process of selecting the number and method of choosing a sample, given a hypothesis or measurement you need to make, under particular circumstances.
Sample is a part of a population on which a study is done. Samples are selected to ease analysis and save time, cost and labour rather than studying each unit of the population as in a census. The results derived from the sample is then generalized to the whole population considering the risks/errors involved. Statistics like price indices, unemployment rates and other social indices and results of scientific discoveries, quality testing in industries and many more general observations are all based on a sample.
Sampling is the procedure by which samples are selected.
For example: To determine the average height of school children in a region, it is impossible rather tiresome to measure height of each and every school child. In order to ease analysis, first a sample of schools are selected, then a sample of children from primary and secondary sections are selected.