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Answer & Explanation Solved by a verified expert Sample size = 304 # of clients in Group/Strata 1 = 196 # of clients in Group/Strata 2 = 108 - We used STRATIFIED RANDOM SAMPLING in collecting dat ... a - We divide the population into 2 groups or strata where each group shares something in common, in this case: Income - The customers that have monthly income more than Rs. 25,000 are in strata 1 - The customers that have monthly income less than Rs. 25,000 are in strata 2 - We then determine the sample size using the formula n = N/(1+Ne^2) - After determining the sample size, we calculate the proportion of each strata in the population and applied the proportion to sample size to determine the number of clients/customers in strata/group 1 and 2. This is called PROPORTIONATE STRATIFIED RANDOM SAMPLING The complete solution and answer for each problem are attached via images. Hope this helps! If you have any questions or concerns, don't hesitate to ask me in the comment box. Rating will be helpful for me to be retained as a tutor in this platform. Thank you and good luck on your studies! :) [Show More]

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