Question

Can you tell me the step by step process of how to do this?

Provide a substantive response that addresses all areas of the item below. Your organization has asked you to estimate the proportion of current employees who expect to retire by the age of 65. Develop an appropriate sampling frame and sampling approach to facilitate this task. Note: Your sample must be random. Outline the data collection process you would employ. Additionally, provide a substantive response to the following questions:

I chose my company to have 500 employees and a sampling frame of 21.

(Employee #1- 132, #2 - 223, 3 - 455, #4 - 63, #5 - 447, #6- 324, #7-320, #8 - 333 #9 - 258, #10 - 263, #11- 34, #12 - 137, #13 - 226, #14 - 353, #15 - 59, #16 - 24, #17 - 261, #18 - 424, #19 - 146, #20 - 28 #21 - 62.

Q1. Is using 21 employees for a sampling frame appropriate number for a population of 500? Was I suppose to use a formula to get the sampling frame or was my preference acceptable?

Q2. Do I randomly select the number for employees out of the 500 or is that a formula that needs to be calculated?

Q3. What considerations need to be made when defining and collecting information from a sample?

Q4. What problems might you encounter and how frequently might they occur? Please advise

Answer 1

Question 1

Using 21 employees for a sampling frame is not an appropriate number for a population of 500, because as per general thumb rule we expect at least 10% of the population would be sampled for getting better results. So, in this scenario, 10% of 500 is 50, so it is advised to use at least 50 employees in your study. You can also use a formula for calculation of sample size based on your precisions.

Question 2

Randomly selection means each observation or employee in your case should get an equal chance for selection. There is no exact formula for generation of random numbers, but you can use a random number table or excel for generation of random numbers. Given observations looks like random numbers. During the selection of random numbers, each element should have an equal chance for selection, and frequency for each interval for data should be the same.

Question 3

Following considerations need to be made when defining and collect information from the sample.

A sample should be a proper representative of the population under study.

All observations of the sample should be selected by using the random sampling techniques.

A sample size should be adequate for drawing the reliable conclusions. At least 10% of the population size should be considered for sample size.

Question 4

If the sample size of the selected sample is not adequate, then there is a possibility that we would get biased results for the population parameters. We cannot use these estimates for the further calculation purpose. The frequency for biased results would be increased if we use smaller size samples. So, it is advisable to use adequate sample size and random sampling techniques for getting better estimates for population parameters.