How do you use stratified random sampling?

How do you use stratified random sampling?

1. Define the population.
2. Choose the relevant stratification.
3. List the population.
4. List the population according to the chosen stratification.
5. Choose your sample size.
6. Calculate a proportionate stratification.
7. Use a simple random or systematic sample to select your sample.

What do you mean by stratified random sampling?

Stratified random sampling is a method of sampling that involves the division of a population into smaller sub-groups known as strata. In stratified random sampling, or stratification, the strata are formed based on members’ shared attributes or characteristics such as income or educational attainment.

When would you use a stratified random sample?

Stratified random sampling is used when your population is divided into strata (characteristics like male and female or education level), and you want to include the stratum when taking your sample.

What are the steps in simple random sampling?

To create a simple random sample, there are six steps: (a) defining the population; (b) choosing your sample size; (c) listing the population; (d) assigning numbers to the units; (e) finding random numbers; and (f) selecting your sample.

What are the advantages and disadvantages of stratified random sampling?

Compared to simple random sampling, stratified sampling has two main disadvantages….Advantages and Disadvantages

• A stratified sample can provide greater precision than a simple random sample of the same size.
• Because it provides greater precision, a stratified sample often requires a smaller sample, which saves money.

What are the strengths and weaknesses of random sampling?

Random samples are the best method of selecting your sample from the population of interest.

• The advantages are that your sample should represent the target population and eliminate sampling bias.
• The disadvantage is that it is very difficult to achieve (i.e. time, effort and money).

What is difference between cluster and stratified sampling?

The main difference between cluster sampling and stratified sampling is that in cluster sampling the cluster is treated as the sampling unit so sampling is done on a population of clusters (at least in the first stage). In stratified sampling, the sampling is done on elements within each stratum.

What is the difference between stratified sampling and blocking?

1 Answer. In Block sampling you select your population or subjects randomly, while in stratified sampling, How you select a population or subjects, are based on a specific standards or qualification.

What is a stratifying variable?

Stratification Variable — variable or variables by which a study population is divided up into strata (or groups)in order to select a stratified sample.

What is block sample selection?

Block sampling is a sampling technique used in auditing, where a sequential series of selections is made. For example, an auditor elects to use block sampling to examine customer invoices, and intends to pick 50 invoices. She picks invoice numbers 1000 through 1049.

What is the difference between haphazard and random sampling?

Random selection is where each member of the population has an equal chance of selection and is carried out by numbering each item of the population then using random number tables to choose which items to examine. Haphazard means that a person picks items, presumably trying to emulate randomness.

How do you select a sample for an audit?

ISA 530 recognises that there are many methods of selecting a sample, but it considers five principal methods of audit sampling as follows:

1. random selection.
2. systematic selection.
3. monetary unit sampling.
4. haphazard selection, and.
5. block selection.

What is the first phase in an audit?

The first stage is the planning stage. In this stage, a corporation engages with the auditing firm to establish details, such as the level of engagement, procedures, and objectives. The second stage is the internal controls stage.

What are the four stages of an audit?

Although every audit process is unique, the audit process is similar for most engagements and normally consists of four stages: Planning (sometimes called Survey or Preliminary Review), Fieldwork, Audit Report and Follow-up Review. Client involvement is critical at each stage of the audit process.