Sampling and Data Collection Plan

In: Business and Management

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Sampling and Data Collection Plan Shelly Resendez QNT 561 July 20, 2015 Ranjit Rebello

TKMSA is our teams real estate company that sells condominiums to the public. TKMSA collects data that reflects trends that will help to increase sales and the profit margin. TKMSA will use a sample of its 1000 condominiums in Florida and will use the stratified sampling. This sampling will use the sub populations of ocean view and floor level in regards to the selling price of each unit. Target Population and Reasoning TKMSA is looking to build another condominium complex off the ocean front of Tampa Bay and the data used can help to determine the selling price of certain units based off the floor level and view. This gathered information will help TKMSA market to a certain type of the population and to decide if this is an actual profitable place to build. Sampling Element
TKMSA will conduct a data mining process that will gather information regarding the selling price for floor level, view, demographics of the unit and the furnishings within the condo. Sampling theory is the field of statistics that is involved with the collection, analysis and interpretation of data gathered from random samples of a population under study. Not only is the theory concerned with selecting the proper observations but also uses the probability theory for analyzing the data from the sample to develop conclusions ("Sampling Theory", 2015). The information will be used to validate the selling price of a condominium unit based on its view.

Appendix Population size = 1000 Confidence level = 95% Margin of error = 5%
Standard Deviation=…...

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