Business Research Methods - Part 1

a) Briefly Explain the Difference Between Qualitative and Quantitative Research and The Advantages of The Respective Research Methods

Qualitative research is conducted in the presence of limited research on a particular topic, and descriptive narratives have the potential to provide detailed information regarding this particular area. Quantitative research can range from experiments with a control group to studies looking at retrospective data and suggesting causal relationships (Rutberg & Bouikidis,2018). Case studies, field research and focus group are major methods in qualitative research. Surveys and correlation studies are mainly used to perform Quantitative research (Queiros, Farian & Almeida,2017). Qualitative research uses summarizing, categorizing, and interpreting to analyses the problem whereas Quantitative research employs Maths and Statistics to analyze the problem and draw a conclusion.

The advantages of Qualitative research is that it can be used for exploratory purposes and it gives in-depth information about the problem with lots of information. Quantitative research requires less time and involves less cost. Allows researchers to test specific hypothesis and make a generalisation

b) Briefly Explain Three Probability and Non-Probability Sampling Methods

The probability sampling method is randomly selecting samples from the population (Etikan & Bala.2017)Simple random sampling: in simple random sampling, every individual in a population has an equal chance of getting selected.

  • Systematic sampling: Here every individual in a population is listed with numbers and individuals are chosen at regular intervals.
  • Stratified Sampling: Here population are divided into subgroups based on characters like age, gender, income etc. Then random or systematic sampling is used to select a sample from each subgroup.

The non-probability sampling does not use probability. It is based on our convenience or specific criteria((Etikan & Bala.2017)).

  • Convenience sampling: Sampling individual who is easily accessible to researchers
  • Purposive sampling: Researchers purposively select the sample which is most useful for research based on their judgement
  • Snowball Sampling: It is contacting the participant through another participant of the survey. the selection did by using networks((Etikan & Bala.2017).

c) Briefly Discuss the Difference Between Population and Sample, and Explain Why It Is Necessary Sometimes to Use Sample Data Instead of Population Data. Support Your Answer with Appropriate Examples

The population is the entire group that we want to conclude whereas sample is a specific group of individuals that we used to collect data to conclude. Sampling allows drawing actionable insights about population without considering all the units of populations. Collecting data from all the units of the population Consumes a lot of time and money(McLeod,2019).

Consider if a drug manufacturer wants to know the side effects of a drug on the Country's population, it is impossible to research everyone. So sampling is carried out based on required criteria and conclude

d) Explain the Difference Between the Target Population and Sampled Population Using an Appropriate Example

The target population is a set of the individuals that we want to know more information about. The sampled population is a subgroup of the target population (Banerjee&Chaudhury, 2010).The population which we can observe in a sample is sampled population. If we want to survey all the adults who are hospitalised in Australia which forms our target population. But due to the limited amount of money, we survey adults who are admitted to hospital in only five cities in Australia which is our sampled population.

e) Briefly Discuss the Possible Errors in Collecting Data with Appropriate Examples

  • Error in specifying the population: This will occur when the researcher does not understand from whom they should collect data. If the researcher wants to study the impact of smoking on health and if he collects data only from male assuming females are not smoking. This will create an error because females may smoke significantly affecting their health.
  • Sampling error: It will occur when the sample is not a true representative of the population. If we want to survey the entertainment preferences of adults and our sample comprises more than 75% female population it may not be the representative of the adult population.
  • Selection error: It is usually seen in the case of a non-probabilistic sampling method. This will occur when a respondent who is not needed for study participation or when there is bias in selecting participants.
  • The error of non-responsiveness: Arises, when respondents intended for study, are not contacted or they refused to respond. Happens in case of the telephonic interview("Statistical Language-Types of Error, "2010)
  • Measurement Error: It is the difference between the information collected and what information wanted by the researcher. If the researcher wants to study the feedback of customer who purchases medicine from the medical shop and if the survey fails to target customer purchases at the store. The research may skew to online customers

Business Research Methods - Part 2

a) Using Dataset 1 and Appropriate Graph(s) Compare the Movements in Covid 19 Cases Between Australia and The Three European Countries; Austria, Belgium and Switzerland During 25th January 2020 and 10th July 2020

From Figure 1 we can see that the number of daily COVID 19 cases is not the same across all the countries. In the case of Australia, the daily cases display the peak during March 23rd followed by the consistent decline in the cases. In the given European countries, The COVID 19 cases in the case of Austria and Belgium daily cases was maximum during March 27th and April 11th respectively followed by increased cases at a constant rate. The number of COVID cases showed an increasing trend in the case of Switzerland. Maximum COVID cases were seen during 23rd June.

b) Using Dataset 2 and Appropriate Graphs Show the Number of Covid 19 Cases and Deaths Ofthe Given Countries and Comment on The Graphs

Figure 2 shows that number of COVID cases and deaths. The proportion of death due to COVID is maximum in the case of France(17.26%) followed by UK (15.41%), Italy(14.35%), Mexico(11.47%) and Spain(10.92%). Lowest deaths were observed in the case of Qatar(0.14%) and Saudi Arabia(0.99%).

c) Using Dataset 3 and An Appropriate Graph(s) Discuss the Proportion of Covid 19 Cases and Deaths by Age Group in Australia

The proportion of death due to COVID 19 is maximum in the more than 80 years age group(26%). No deaths due to COVID are seen in case of below40 years age group people

d) Construct Histogram(s) for Male Covid 19 Cases and Deaths Using Dataset 4 and Comment on The Shape of The Distribution

The shape of the histogram reveals that the male COVID-19 cases and deaths in Australia not symmetrical and skewed to right. However, death due to COVID-19 is seen in the case of more than 40 age group people. Highest deaths being observed in the age group for more than 80 years.

e) Using Dataset 5 and An Appropriate Diagram, Identify Any Relationship Between Price (in $per Litre) and Quantity of Beer (in Litres). Comment on The Relationship

There is a negative relationship (r= 0.96) between Price and Quantity of Beer demanded(See figure 5). Which indicates if the price of the Beer increases the quantity of Beer demanded will decrease and vice versa keeping other things constant. The trend equation shows a slope coefficient of 5.26 which indicates if the price of the beer increase by 1 $ the Quantity demanded of beer decreases by 5.26 litres.

f) Prepare a Numerical Summary Statistic Table for The Price (in $ per Litre) and Quantity of Beer(in Litres) in Dataset 5 and Explain the Key Numerical Descriptive Measures

Price of Beer(in $/per litre)

Beer Quantity (in litres)

Mean

10.36

Mean

133.86

Standard Error

0.86

Standard Error

4.74

Median

9.95

Median

123.97

Mode

Mode

Standard Deviation

5.66

Standard Deviation

31.06

Sample Variance

32.07

Sample Variance

964.87

Kurtosis

-1.02

Kurtosis

-0.94

Skewness

0.29

Skewness

0.46

Range

19.14

Range

105.65

Minimum

1.85

Minimum

86.49

Maximum

20.99

Maximum

192.14

Sum

445.36

Sum

5755.98

Count

43.00

Count

43.00

The mean price of beer is found to be 10.36 $. Median and Mode is another measure of central tendency. Standard error indicates how close the sample mean is from the true population mean. It can be used to roughly define a range of certainty for the mean. We are 68% certain that the average price of beer is between 9.5$ and 11.22 $. We are 95% certain that the average price of beer is between 8.64$ and 12.08 $. We are 99% certain that the average price of beer is between 7.78$ and 12.94 $. Standard deviation is 5.66. which indicates 68% of the data lies within 5.66, 95% data lies within 11.32 and 99% data lies within 16.98. Sample variance is the dispersion of data from the mean which is 32.07. Kurtosis gives the peakedness of the distribution here it is negative (-1.02) which indicates the presence of too many data in the tails implying flat curve(Platykurtic). Skewness is 0.29 which is positive implying more data on the left side of the curve indicating distribution is right-skewed. The range is the measure of dispersion which is 19.14 which gives the difference between the largest and smallest value.

The mean quantity of beer is 133 litres with the standard error of 4.74 and sample variance of 964.87. The distribution is platykurtic and skewed towards the right.

References for Business Research Methods

Banerjee, A., & Chaudhury, S.(2010).Statistics without tears: Populations and samples.Indian Psychiatry Journal,19(1),60-65. doi: 10.4103/0972-6748.77642

doi: 10.5281/zenodo.887089

Etikan. I., & Bala, K .(2017). Sampling and Sampling Methods. Biom Biostat Int J,5(6), 00149. dOI: 10.15406/bbij.2017.05.00149

McLeod, S. A. (2019). Sampling methods. Retrieved from https://www.simplypsychology.org/sampling.html

Queiros, A., Faria, D., & Almeida, F.(2017).Strengthening and limitations of qualitative and quantitative research methods.European Journal of Education Studies,3(9),369-387.

Rutberg,S., & Bouikidis,C.D.(2018).Focusing on the fundamentals:A simplistic differentiation between qualitative and quantitative research. Nephrology Nursing Journal,45(2),209- 212.Retrieved from http://www.homeworkgain.com/wpcontent/uploads/edd/2019/09/20181009143525article 2.pdf

Statistical Language: Types of error .(2020,August 24).Retrieved from https://www.abs.gov.au/websitedbs/a3121120.nsf/home/statistical+language+- +types+of+error

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