Common Sampling Errors In Market Research
Common Sampling Error in Market Research Sampling error is a statistical concept that refers to differences between the results obtained from a sample and those obtained from a census of all members of a population. Sampling errors are often addressed by experts in the field as part of inferential statistics which is used to draw conclusions about populations based on sample data. In market research, sampling errors can occur by accident or due to poor planning. They may be consequential, as when they completely distort findings and lead to incorrect decisions. Types of Common- Sampling Error In Marketing Research Following are the types of common-sampling error in market research: Type I Error - rejecting good hypothesis Type II Error - accepting bad hypotheses Rejecting Good Hypothesis: Type I Error - rejecting good hypothesis: The hypothesis that is rejected may be a good one, but the sample evidence leads to a mistaken rejection. Accepting Bad Hypothesis: Type II Error - acceptin