using the most appropriate sampling techniques | My Assignment Tutor

Section 1: Sampling 1. With reference to the Xcel spreadsheet: Debtor Account Balances of August Inc. you are required to: a) Calculate the mean debtor balances, by two methods, using the most appropriate sampling techniques, having regard for the data presented. You have to use two probability sampling techniques chosen from simple random sampling, systematic sampling and stratified sampling. Your sample size must be 40. (4 marks each appropriate sampling technique) b) Looking at the two sampling techniques you used, why did you choose them? (2 marks)30 marksc) Calculate the actual population mean of the debtor account balances (using Xcel). (1 mark)d) Which of the methods you used gave a result closest to the true population mean? (1 mark) e) For each sample mean that you calculated in part a) above calculate the standard deviation for each (2 marks) and then establish a 95% confidence interval for each (2 marks). Does your confidence interval contain the population mean? (1 mark). Discuss your results and comment on why your sampling processes and subsequent confidence intervals did or did not contain the population mean. (2 marks). What could you do to improve the accuracy of your population mean result? (1 mark)Special Note on the August Inc. Data Set There is 200 accounts listed. Accounts 1 to 150 are casual accounts and accounts 151 to 200 are commercial accounts. A spare parts warehouse contains 30,000 product lines. It is laid out in 15 aisles, numbered A, B, C,… up to 0, with each aisle containing 2000 product lines. Management wish to calculate the percentage of stock discrepancies over the whole warehouse. This process therefore is a count of the physical stock in the warehouse, which is then compared against the stock count in the computerised stock system. The warehouse team leader decides to select a sample of 600 product lines to check the percentage of product lines with stock discrepancies. He decides to check the 600 products closest to the despatch dock.a) What type of sample is this?(1 mark)Scanned with CamScanner