Assignment:
In Marketing research: Methodological foundations, Chapter 11: Applications and problems, Number 8, read the scenario. Complete the items (Parts A through E) as detailed below. The paper must be two to three pages in length (not including the title and reference pages), be formatted according to APA style as outlined in the Ashford Writing Center, and use at least two scholarly sources in addition to the text.
The Nevada National Bank, headquartered in Las Vegas, has some 400,000 users of its credit card scattered throughout the state. The application forms for the credit card ask for the usual information about name, address, phone, income, education, and so on, that is typical of such applications. The bank is interested in determining if there is any relationship between the uses of the card and the socioeconomic characteristics of the user (e.g., is there a difference in the characteristics of those people who use the credit card for major purchases only [e.g., appliances] and those who use it for minor as well as major purchases?).
1. Identify the population and sampling frame that would be used by the bank.
2. Discuss how you would draw a simple random sample from the sampling frame identified in Part A.
3. Describe how you would draw a stratified sample from the sampling frame.
4. Describe how you would draw a cluster sample from the sampling frame.
5. Explain which method would be preferred and why.