http://www.scribd.com/doc/53153030/9/PROFIT-MAXIMIZATION-Vs-WEALTH-MAXIMIZATION http://www.newagepublishers.com/samplechapter/001683.pdf Researchers usually draw conclusions about large groups by taking a sample.

Need for sampling For some research questions it is possible to survey entire population as it is of manageable size. However you should not assume that a census survey would necessarily provide more useful results than a well-planned sample survey. Sampling provides a valid alternatives to a census when.  The population is too large, making it impossible to survey.  Your budget constraints prevent you from surveying the entire population.  Your time constraint prevents you from surveying the entire population. Sampling also saves time, especially when you have tight dead-lines. As you have fewer data to analyze the results will be available quickly. Steps in Sampling Identifying a suitable sampling frame- the sampling frame for any sample is a complete list of all the cases in the population from which your sample will be drawn. Consequently your sample may not be representative of the total population. Deciding on a suitable sample size- generalization about populations from data collected using any probability samples are based on probability. Your choice of sample size is governed by.  The confidence that you have on your data  The accuracy you require from any estimates made from your sample  The nature of the population  The type of analysis you are going to undertake Selecting the most appropriate sampling technique and the sample-once you have chosen a suitable sample frame and sample size the next step is to select appropriate sampling techniques to obtain representative sample.

Your sampling techniques depend on your research questions and objectives.