How to determine the sample size for market research?
Posted: Tue Jan 07, 2025 5:57 am
An investigation is made up of various steps that allow the desired result to be achieved. Within this methodology there is an element that is of vital importance for the investigation itself, that is, determining the size of a population sample.
What is a population sample?
A population sample is a set of elements that represent the total universe, that is, they are a fraction of the total number of individuals to be evaluated.
Establishing the size of said sample is an important process in all research since it will allow for a viable and credible study to be carried out, always delimited by the objectives of the study and the different characteristics of each population.
Determining the size of a sample allows you to save both economic and human resources, in addition to considerably reducing the time it takes to carry out the research you are conducting, which can be of any kind, such as opinion studies or market research .
How to determine the population sample size?
There are several ways to obtain the size of a sample depending norway phone number the data available, for example, if you have the number of people to whom you will conduct the study (for example, the number of inhabitants in X city), it is said that you have a finite universe, on this occasion we will address this kind of universes and how to obtain the ideal size of a sample, to achieve the above, the following formula proposed by Murray and Larry (2005) is used:
Finite Formula
Where:
n = is the size of the population sample to be obtained.
N = is the size of the total population.
σ = represents the standard deviation of the population. If this data is unknown, it is common to use a constant value equivalent to 0.5
Z = is the value obtained through confidence levels. Its value is a constant, usually there are two values depending on the desired degree of confidence, with 99% being the highest value (this value is equivalent to 2.58) and 95% (1.96) being the minimum value accepted to consider the research as reliable.
What is a population sample?
A population sample is a set of elements that represent the total universe, that is, they are a fraction of the total number of individuals to be evaluated.
Establishing the size of said sample is an important process in all research since it will allow for a viable and credible study to be carried out, always delimited by the objectives of the study and the different characteristics of each population.
Determining the size of a sample allows you to save both economic and human resources, in addition to considerably reducing the time it takes to carry out the research you are conducting, which can be of any kind, such as opinion studies or market research .
How to determine the population sample size?
There are several ways to obtain the size of a sample depending norway phone number the data available, for example, if you have the number of people to whom you will conduct the study (for example, the number of inhabitants in X city), it is said that you have a finite universe, on this occasion we will address this kind of universes and how to obtain the ideal size of a sample, to achieve the above, the following formula proposed by Murray and Larry (2005) is used:
Finite Formula
Where:
n = is the size of the population sample to be obtained.
N = is the size of the total population.
σ = represents the standard deviation of the population. If this data is unknown, it is common to use a constant value equivalent to 0.5
Z = is the value obtained through confidence levels. Its value is a constant, usually there are two values depending on the desired degree of confidence, with 99% being the highest value (this value is equivalent to 2.58) and 95% (1.96) being the minimum value accepted to consider the research as reliable.