Sampling is a process used in statistical analysis in which a predetermined number of observations are taken from a larger population. The methodology used to sample from a larger population depends on the type of analysis being performed, but it may include simple random sampling or systematic sampling.
Certified Public Accountants use sampling during audits to determine the accuracy and completeness of account balances.1
Types of sampling include random sampling, block sampling, judgement sampling, and systematic sampling.
Companies use sampling as a marketing tool to identify the needs and wants of their target market.