Business Statistics

260 Business Statistics

Step 3: Appropriate sampling technique must be selected

Selecting a sampling technique is a crucial decision for a researcher. A researcher has to decide be-

tween the Bayesian or the traditional sampling approach, sampling with or without replacement, and

whether to use probability or non-probability sampling techniques.

The Bayesian approach is theoretically very sound, but practically not very appealing. It is based

on prior information about the population parameters. It is very difcult to obtain the required in-

formation essential for applying the Bayesian approach. Hence, its use is very limited in research. ...