What are the advantages and disadvantages of using simple random sampling in cryptocurrency research?

1 answers

• Nov 24, 2021 · 3 years ago
  When it comes to cryptocurrency research, simple random sampling can have its advantages and disadvantages. On the positive side, this sampling method ensures that each cryptocurrency has an equal chance of being selected, which helps to minimize bias and increase the generalizability of the findings. However, one of the drawbacks of simple random sampling is that it may not adequately capture the diversity and complexity of the cryptocurrency market. Since this method relies on random selection, it may not include a representative sample of various types of cryptocurrencies, potentially leading to skewed results. Additionally, simple random sampling may not be suitable for studying specific subsets within the cryptocurrency community, as it may be challenging to obtain a sufficient sample size. Despite these limitations, simple random sampling can still provide valuable insights into the overall trends and patterns in the cryptocurrency market.
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