Explain stratified sampling and state its advantages
What will be an ideal response?
In stratified sampling, the N individuals or items in the population or frame are first subdivided into subgroups, or strata, each according to some common characteristic. A simple random sampling is conducted within each stratum, and the results from the separate simple random samples are combined. Such sampling methods are more efficient than simple random sampling because they include the representation of individuals or items across the entire population, which ensures a greater precision in the estimates of underlying population parameters. The homogeneity of individuals or items within each stratum provides the precision.
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The field of ____________ studies how people respond to specific environments
a. organizational behavior b. marketing c. environmental psychology d. strategic management e. financial management
Ming's catering company is structured as a sole proprietorship. The business has grown and he is hiring more employees and getting high-profile jobs
Ming is worried about the personal impact of potential lawsuits such as an employee getting burned or a refrigerator failing before a huge party. What would you advise Ming to do? What will be an ideal response?