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ABC Bank Customer Sampling Strategy

The document discusses sampling a population of 100,000 customers from ABC Bank. The target population is all of ABC Bank's customers in NSW as of July 2016. The sampling frame would be a list of all customers from all ABC Bank branches in NSW. Simple random sampling is recommended because ABC Bank has a finite number of known customers and no specific segment needs to be focused on.

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51 views1 page

ABC Bank Customer Sampling Strategy

The document discusses sampling a population of 100,000 customers from ABC Bank. The target population is all of ABC Bank's customers in NSW as of July 2016. The sampling frame would be a list of all customers from all ABC Bank branches in NSW. Simple random sampling is recommended because ABC Bank has a finite number of known customers and no specific segment needs to be focused on.

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Q5. ABC Bank has 100,000 customers.

The management wishes to draw a sample of 200


customers.
(a) Identify the population and sampling frame that could be used.
(b) Which sampling technique would you recommend? Why?

Target Population:

All Australian, household and business customers of ABC Bank branches in NSW as of 1
July 2016

Sampling Frame:

ABC Bank’s Sampling Frame would be a list of all customers (all age groups and other
demographics) at all ABC Bank’s branches across NSW.

Sampling Technique:

I would recommend the Simple Random Sampling technique. It is extremely easy to


undertake. ABC Bank has a finite number of customers. All their names/details are known. It
is feasible to randomly draw an x number of customer names for research purposes. Since
the question does not specify any particular segment to focus on, a Simple Random
sampling technique could easily be used.

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