Question

Explain the relationship between sample size and sampling risk.

Answer 1

Sample size is the number of observations to be picked to conduct a statistical sampling and analysis based on which the population characteristics can be understood.

Sampling risk is the probability of the sampling results deviating from the actual population results leading to an incorrect and inaccurate analysis. Sampling risk can be reduced by choosing/picking the right sample.

Another way of reducing the sampling risk is by increasing the sample size as the size increases, the sample becomes a better representation of the population thus reducing the sampling risk and providing an accurate result.