> A global consumer survey reported that 6% of US taxpayers used or owned cryptocurrency in 2020. The US government is interested in knowing if this percentage has increased. The University of Chicago surveys 1,004 taxpayers and finds that 13% have used or owned crypto in the past year (2021)
| Simple random | Advantages:<br>- Procedure is impartial<br>- Law of Averages<br>Disadvantages<br>- Not always possible<br>- Can be very expensive |
| Quota Sampling | Attempts to get certain proportions based on key characteristics. Quota sampling doesn't guarantee that the selection is an accurate representation. |
| Cluster Sampling | Divide population into subgroups, randomly select a subgroup, and sample all of the subjects in that group |
To determine by how much the standard error is affected, if $n$ is the proportion that the population changed by, the standard error will change by $\frac{1}{\sqrt{n}}$.
You can use the below equation to find the percentage standard error of a box model that has ones and zeros. the % of ones and zeros should be represented as a proportion (EG: `60% = 0.6`).