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Sample size Definition

The number of participants in the trial or study.

In market research, sample size refers to the number of individuals, entities or data points selected from a larger population to participate in a study. It is a crucial parameter that influences the scale and representativeness of the sample, directly impacting the accuracy and reliability of research findings.

What are the key aspects of sample size?

• Precision and reliability: Sample size affects the precision of estimates, margin of error and statistical power of hypothesis tests, which are essential for obtaining accurate and reliable research outcomes.
• Resource balance: Choosing the right sample size requires balancing resource constraints with the need for valid and actionable results, ensuring efficiency and cost-effectiveness.
• Validity and generalizability: A well-defined sample size ensures that research findings are representative of the target population, reducing the risk of biased results and enhancing the applicability of insights.

Market researchers, data analysts, businesses and organizations depend on sample size to design effective research studies and gather meaningful data. Properly determining the sample size is essential for ensuring that research results are statistically valid and provide valuable insights for decision-making.