Final answer:
The target population in business research refers to the specific group of people who are the focus of the study, while the sample refers to a smaller subset of individuals from the target population who are selected to participate in the study. Random sampling is important to ensure equal representation.
Step-by-step explanation:
In business research methods, the target population refers to the specific group of people who are the focus of the study, such as college athletes, international students, or teenagers with type 1 diabetes. On the other hand, the sample refers to a smaller subset of individuals from the target population who are selected to participate in the study. The success of a study depends on how well the sample represents the target population. It is important to note that a sample should be randomly selected to ensure that every person in the target population has an equal chance of being chosen for the study.