In the filed of Business Management, What is the relation among, sample size, number of variables, and the type of analysis in order tp produce a good research work?
First Probability interpretation :
Number of variables : are considered when inter-dependency is needed
Sample size: Limiting the number to a smaller set is better because probability is ranging between [0 1]
Type of analysis : I would think problem dependent , say you want normal distribution or want Gaussian or Pareto etc etc
Eg: in business I would think area wide sales
Variables : age group
Sample size : Income group OR educating OR seasonal
Type: Gaussian (for quarterly observations)
I hope I nailed it :)
The determination of sample size is important in the sample representation of the study population of the researcher, which can have a significant impact on the results of the study. Therefore, there are a number of factors that determine the appropriate size of the study sample,
- Confidence Level - Precision Level - Variance in the original society of the study - The type of statistical analysis used - The size of the original community, the higher the size of the society, the greater the size of the sample selected in the research. There is no agreement between the researchers in the development of a specific percentage to choose the sample of the study, but some prefer that the sample size not less than 5% or 10% of the original research community.
Please download this book. It is very helpful and you can find answers for all your methodological questions.
Many thanks Dr. Mohammad Hamad Al-khresheh for your valued answer and articles Mohammad Hamad Al-khresheh
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