How we can determine the sample size ? If we want to draw a sample from population then what would be the most suitable % of sample for that ?
There are two methods to draw a sample from population.
1. Sample size based on known population, i.e. when you know about your population-you can use probability based sampling method (formula is given on net). In this case, you can select sample from four approaches (search net).
2. Sample size based on unknown population i.e. when you don't know actual size of population. In this case you need to apply non-probability based sampling formula which is also available on net. This one normally applies to more than 50,000 respondents.
Both the formulas give suitable sample size.
Good Luck.
For simple random sampling with replacement design with the sample mean as estimator, the sample size depends of population variance for a determinated prefixed precision.
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