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Sampling Theory is often treated as an accounting term rather than a marketing term, and this may lead to confusion. This guide introduces potential teaching material and ways to improve the quality of learning.
The importance of sample theory and statistical theory to the performance of the business is essential to understanding today’s business environment. It includes the fundamental concepts, including variables and events, probability distributions, sampling and sampling methods and properties, graphical description of discrete random processes, estimation techniques, and hypothesis testing.
This guide will focus on the difficulties of teaching sampling theory to MBA students. It is found that students are more interested in mathematical models than a conceptual understanding of sampling theory. They can understand how it is used in statistical analysis, but they find it difficult to explain the concept of randomness and distribution in terms of probability.
What is Sampling Theory?
Sampling theory is a branch of statistical theory that studies the randomness, or non-randomness, of sampling. It has been used to study many fields such as economics, finance, quality control, management science, and law where it helps in evaluating data obtained from sampling techniques. This theory provides an insight into how samples are drawn and how they are used for establishing statistical inferences about population parameters. It is an important concept in statistics that is essential for understanding and applying statistical analysis. However, many students of advanced statistics in business schools are not adequately trained.
One of the challenges in teaching sampling theory to MBA students is that it can be difficult for them to grasp the concept of randomness. This guide aims to assess the level of knowledge among MBA students and make them understand the key concepts involved in sample size determination.
Challenges in Teaching Sampling Theory to MBA Student
The theories of sampling are inevitably taught to MBA students. However, the challenges that arise when teaching these topics to MBA students are not very different from those that arise in other courses.
Here are some of the challenges that most instructors face in teaching sampling theory to MBA students:
1. Not Familiar with It
First challenge in teaching sampling theory to MBA students is that they are generally not familiar with it. Sampling theory has been around for about 100 years and has been used in various areas of business research, but it is not common knowledge among students of economics or statistics.
The students do not know sampling theory. So the first thing they do is to make a mistake in their calculations and then they start asking questions like “why did you do it this way?”, “How can we do better?” etc. So an instructor has to spend time explaining what sampling theory is and how it works.
2. Lack of Understanding of Concepts
The second challenge in teaching sampling theory to MBA students is that it can be difficult to explain the concepts of sampling without relying on mathematical formulas or complicated computations. This requires an understanding of probability theory, which is a part of mathematics but not always taught at the undergraduate level.
The students need to understand clearly the concepts of probability and hypothesis testing before understanding sampling theory. This is because if they don’t understand these concepts, then they won’t be able to apply them appropriately when dealing with sampling situations in their assignments (e.g., choosing a sample for testing whether a population means is different from a given value).
3. They don’t Trust the Evidence of an Experiment
The students have trouble applying the concept of randomness in experimenting because they think that there must be some kind of bias involved in every experiment and so they don’t trust what they see as evidence that supports the validity of an experiment or its conclusions (e.g., “If I flip a coin 10 times, then each time it comes up heads, but at last it came down the head). (Støa, Halvorsen, Mazzoni and Gusarov, 2018)
4. Lack of Understanding of Methods
The fourth challenge in teaching sampling theory to MBA students is that there are many different ways to perform a random sample and each way has its advantages and disadvantages. For example, many students don’t know the difference between qualitative and quantitative research when writing essays because their instructors have never told them in detail. In such cases, they buy essay papers from online services (DWH, 2021). So, instructors need to discuss these differences so that students understand how one method can produce better results than another method for certain types of samples (e.g., survey data vs. experimental data).
Methods of Teaching Sampling to MBA Students
- Teaching Sampling Theory to MBA students must start with the basic concepts of sampling theory like random, systematic, and representative samples.
- Teaching Sampling Theory to MBA students has to be made interesting by using examples and illustrations that are relevant to the topic being taught.
- The best way to teach sampling theory is to have students take part in an actual experiment. This allows them to see first-hand how sampling theory works in practice and allows them to apply their knowledge of sampling theory to a real situation.
- The second common method for teaching MBA students about sampling theory is through simulation exercises. A simulation exercise provides an opportunity to practice the principles of sampling theory in a practical setting.
Sampling Theory is a very important topic for business management, and MBA students learn this topic in their first semester of the course. It is a powerful tool for understanding the performance of a population. This is especially true in the business world where the ability to acquire data on large populations and then analyze it can lead to better decision-making and increased profits. To be effective, however, sampling theory must be taught effectively. There are several methods of teaching Sampling Theory to MBA students. This guide is assembled for all the instructors to know more about the concepts and methods of sampling theory so they can teach their students efficiently & effectively.