Explain sampling methods in detail and each section with examples

SAMPLING METHODS:

1. RANDOM SAMPLING:In this method of sampling, samples are collected on a random basis so that all the items in terms of population get a fair chance of slection or equal chance of selection and it can also be used through random number tables or random number generators.

Example:10 students are selected for playing a game in the class out of 100 students by placing a name of all 100 students in each chit(in total=100 chits) and placing them into a bowl.

2.SYSTEMATIC SELECTION SAMPLING METHOD:It is the method which refers to ratio of total number of samples to the sample size which gives result as a sampling interval.

Example:Suppose there are total no of 44 students in the class and so there will be 4 football teams.The coach select every 7th person as a captain of each team.So the starting point will be 7th so then every 7th person of each team will be selected as captain.

3.MONETARY UNIT SAMPLING METHOD:This method refers to the sampling method in which sample size and results are determined in monetary terms.It is also considered as value based selection

Example:Suppose we have to verify stock of $100000 and the stock quantity(sample size) is 50.So divide stock with stock quantity(100000/50).So we will get 2000.So pick a random number between 1-2000 excluding 1 and 2000.

4.HAPHAZARD SELECTION SAMPLING METHOD:In this type of sampling method while selecting samples no structured method or technique is followed.

Example:Suppose the auditor verifies the purchase enteries and he avoids first and last page enteries.

5.BLOCK SELECTION SAMPLING METHOD:It refers to the sampling method on which samples are drawn from block of items.

Example:There are 50 blocks of sales voucher each block containing 10 vouchers.The Auditor select any four block of vouchers for verification.

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