Do managers really have a large sample size bias? Because you cannot survey managers easily, this exercise will use surrogates. Ask any five seniors majoring in business administration who have not taken a marketing research class the following questions. Indicate whether each of the following statements is true or false.
a. A random sample of 500 is large enough to represent all full-time college students in the United States.
b. A random sample of 1,000 is large enough to represent all full-time college students in the United States.
c. A random sample of 2,000 is large enough to represent all full-time college students in the United States.
d. A random sample of 5,000 is large enough to represent all full-time college students in the United States. What have you found out about sample size bias?