Most surveys in India end up interviewing less than 0.05% voters. For an all-India survey, it may be much less. However, the predictive power of opinion polls lies in how the sampling of voters is done. Dr Karandikar gave the audience a few examples signifying the importance of proper sampling. A sample needs to of the right size, not very large, irrespective of the total population of voters. This held good even if the sample size was 4,000 irrespective of whether a constituency had one lakh voters or 20 lakh voters. Sampling, if properly done, has the power of determining the winner with 99% probability, said Dr Karandikar. Random sampling is a must to remove any bias. Failure to select a random sample can lead to wrong conclusions.
There are several questions raised about the integrity of opinion polls. Last year, in a sting operation, a number of opinion polling agencies approached by undercover reporters agreed to manipulate poll data. Dr Karandikar further mentioned that “the media hypes these projections as the truth, the whole truth and nothing but the truth.” But in reality, the polls should be seen as an indication, as to who is likely to win, will anyone get majority and so on. And it also gives a deeper insight into why people voted the way they did.”
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam

Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.

Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.

Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
