Definition - What does Representative Sample mean?
A representative sample is a portion of a larger population chosen because it reflects the quality or characteristics of the entire population. This portion is often used for studies such as statistical or market research.
Insuranceopedia explains Representative Sample
A representative sample is selected judiciously because those drawing conclusions from them want their findings to apply to the wider population. If there is no method employed in gathering the sample, it is not a representative but a random sampling.
Studying representative samples can be practical and the expenses of studying a sample population are much lower than those of studying an entire population. Moreover, studies show that, if done correctly, representative sampling generates results that are just as good, if not better, than conducting a study on larger numbers.
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