Explain the importance of sampling from a managerial perspective. Provide examples.© BrainMass Inc. brainmass.com September 25, 2018, 12:01 am ad1c9bdddf - https://brainmass.com/business/management-accounting/sampling-from-a-managerial-perspective-458052
Explain the importance of sampling from a managerial perspective. Provide examples.
Sampling is important to management because it is a cost effective way to learn about a large population of data. Sampling, done correctly, permits you to make inferences about a population from a few data points that will be representative of the full population. So, you can look at 90 or so transactions and know something about the full 5,000 transactions. This saves management from having ...
Your tutorial explains three classic ways that sampling is important to management. 320 words.