Question

How large a sample size is considered minimum in marketing research? Explain:

Answer 1

To get meaningful insights, most statisticians belive 100 to be the minimum sample size. If the population is less tha 100, we need to survey them all. The sample size is a factor of confidence level and confidence interval. If we reduce the sample size, confidence level will decrease and interval will increase, meaning a drop in reliabiility of the results. However, during constraint moments, a minimum sample of 32 is considered, which is said to be minimum number to exhibit normal distribution