Question
Which method helps to reduce bias when creating a sample
from a population for analysis?Solution
Random sampling minimizes bias by giving each individual in a population an equal chance of being selected. This equal probability helps ensure that the sample is representative of the population, reducing the likelihood that certain characteristics will be over- or under-represented. By relying on randomness rather than subjective criteria or convenience, analysts avoid systematic bias, which can skew results. Random sampling is particularly effective in quantitative research where representativeness is crucial for drawing valid, generalizable conclusions about the broader population. The other options are incorrect because: • Option 1 (small sample size) increases the risk of sampling error and may not capture population diversity. • Option 2 introduces bias based on subjective judgment, compromising sample representativeness. • Option 3 (willing participants) leads to self-selection bias, as the sample may differ from the general population. • Option 5 focuses on subgroups, which is useful for subgroup-specific analysis but limits broader generalization.
Which of the following accounting standards deals with "Net Profit or loss for the period, prior period items and changes in the Accounting Policies"?
Which form is used for preparing the Profit and Loss Account of an insurance company carrying out life insurance business under the IRDA Regulations, 2002?
Which among the following correctly describes Margin of Safety?
What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
A company follows FIFO method of inventory valuation every year. Which accounting principle is being followed?
Monthly purchases = ₹20 lakh, lead time = 2 months. What is the LC amount required for an Inland Letter of Credit (LC)?
A "small shareholder" holds shares of nominal value of less than or equal to ________.
The term "Goods" under GST does not include:
The maximum period for which an individual can be appointed as an auditor of a company is:
Window dressing implies which among the following?