Question
Which of the following factors should primarily
determine the sample size in a data analysis project?Solution
The sample size in data analysis should be determined primarily by the statistical power necessary to detect meaningful effects or relationships within the data. Statistical power reflects the probability of correctly rejecting a false null hypothesis (i.e., avoiding a Type II error). A larger sample size increases statistical power, making it easier to detect small effects or differences, especially in complex analyses. In practice, sample size decisions often consider factors like desired confidence level, effect size, and population variability. This systematic approach ensures reliable, valid results, supporting sound conclusions and generalizable insights. The other options are incorrect because: ⢠Option 2 (number of variables) can influence data complexity but does not directly determine sample size. ⢠Option 3 (funding) may constrain data collection but should not solely dictate sample size. ⢠Option 4 (ease of collection) affects feasibility, yet does not ensure adequate statistical power. ⢠Option 5 (preference) is subjective and does not account for the methodological rigor needed in analysis.
A listed company did not appoint a woman director on its Board. During audit, you find non-compliance continuing for 6 months. What is implication?
In insurance accounting, what is "unearned premium"?
A company has issued non-convertible debentures. Which of the following is true?
The term âPrevious yearâ is defined under which section of Income Tax Act?
Which of the following is not a member ministry in the National Board for MSMEs?
From the following data calculate abnormal gain to be debited to process account.
Input introduced in process 1 = 2000 units
Output = 1900...
Goods worth Rs.100,000 taken by the owner for his personal use should be credited to:
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts the highest rate of tax.
_______ are denominated in GBP (Great Britain Pound) and issued in London. Issue proceeds can be used to fund UK operation.
Section 126 of the Indian Contract Act refers to: