Sampling
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Sampling”?
“If you don’t believe in sampling theory, next time you go to the doctor and he wants to take a little blood, tell him to take it all.” — Gian Fulgoni, founder and chairman of comScore, Inc.
Key Points:
- Sampling is the process of taking a small percentage of the total output and using it as a proxy for the entire system.
- Sampling can help you identify systemic errors quickly.
- Always make sure to test a random and uniform sample.
- Sampling is good for quick tests of quality without incurring huge costs.
Questions for Consideration:
- Can you test the total output of your system, or would a sample be sufficient?
- What is the largest sample you can feasibly collect?
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