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Lcci Business stats > Chapter 1 - The Role Of Business Statistics In The Business Environment > Flashcards

Chapter 1 - The Role Of Business Statistics In The Business Environment Flashcards

1
Q

What is primary data

A

Primary data is the data collected and used for its original/ specific purpose

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2
Q

What are examples of primary data

A

Data obtained from using data collection techniques such as surveys, interviews and direct obervations

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3
Q

what is secondary data

A

secondary data refers to the data that has been collected by other people or organisations, for other purposes and may be more general in its scope

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4
Q

what are some examples of secondary data

A

government statistics and associated reports. for the researcher, secondary data is cheap to acquire. however, it may not be in the form needed, and it may not be as up to date as primary data

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5
Q

what are some advantages of primary data

A
  • the data collected is specific to the project and it should be in the required format and required degree of accuracy
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6
Q

what is a census

A

a census involves counting all items within the population

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7
Q

what is the difference between a survey and a census

A

a census involves counting all items within the population, while a survey is a sample representing the population

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8
Q

what is the difference between a population and a sampling frame

A

the difference is that the population is general and the sampling frame is specific

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9
Q

what is the sampling fraction

A

the sampling fraction is the ratio of size of the sample to the size of the population

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10
Q

what is the definition of a pilot survey

A

A pilot survey is a small-scale preliminary study conducted to test and refine the survey design before the main survey

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11
Q

how is a pilot survey useful

A
  • it could reveal deficiencies in the sampling frame and in the sample design
  • it could give an indication of the likely response rate in a larger survey
  • it might indicate the main source of non- response
  • if interviewers are used, it could provide likely problems that might surface
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12
Q

what is the purpose of a pilot survey

A

pilot testing allows the business to address any issues which may impact upon the reliability of the data collected in a larger survey

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13
Q

what is a simple random sample

A

a simple random sample is based on the principle that each individual has an equal chance of being selected by randomly choosing from a numbered list

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14
Q

what are the steps to a simple random sample

A

step 1: number every individual in the population
step 2: then, by randomly selecting from cards, or counters which are similarly numbered, or by a random numbers table, the required number of individuals from the population is obtained

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15
Q

what are 2 advantages of a simple random sample

A
  • the method is simple
  • each individual has an equal chance of being selected
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16
Q

what are some disadvantages of a simple random sample

A
  • the method requires the existence of a sampling frame
  • a suitable sampling frame may not exist.
  • the numbering of the frame may prove to be laborious
  • a very unrepresentative sample may result
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17
Q

what is the definition of a sampling frame

A

A sampling frame is a list or representation of all the elements in a population from which a sample can be drawn for a study or survey

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18
Q

usually, what order is the sampling frame in

A

Alphabetical order

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19
Q

what is systematic sampling

A

Systematic sampling is a method where you select every k-th element from a population after randomly choosing a starting point.

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20
Q

what method of sampling is widely used

A

systematic sampling

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21
Q

does systematic sampling meet the criterion of randomness

A

no

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22
Q

why doesn’t systematic sampling meet the criterion of randomness

A

it is because some of the population have a zero possibility of being chosen

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23
Q

what is a stratified sample

A

a stratified sample involves dividing the population into strata by some relevant characteristics

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24
Q

what are some relevant characteristics that the population can be divided by

A
  • age
  • sex
  • social class
25
what needs to be relevant to the survey
the stratification factor
26
what's the next step after dividing the population into strata
a sample is taken from each stratum
27
what is a good outcome of using stratified sampling
stratification ensures that the achieved sample is more representative of the population
28
what are some advantages of stratification
- stratification sampling ensures that the achieved sample is more representative of population than a simple random sample - information can be obtained about each stratum
29
what are some disadvantages of stratification
- it is not always easy to obtain a sampling frame for each stratum - it is more complicated than a simple random sample
30
What is multi-stage-sampling
Multi-stage-sampling divides large populations into stages to make the sampling process ore practical
31
What are some advantages of multi-stage-sampling
- Field work is concentrated in a number of small areas, thereby reducing costs - a sampling frame of electors is needed for the final stages only
32
What are some disadvantages of multi-stage-sapling
- there is a likelihood of a biased sample - it is more complicated to organise
33
What is outer sampling
Quota sampling is a sampling method of gathering representative data from a group
34
What is the difference between random sampling and quota sampling
The difference between random sampling and quota sampling is that unlike random sampling, quota sampling requires representative individuals are chosen out of a specific sub- group
35
What are some advantages of quota sampling
- it is cheap, about half the cost of random sampling - it is quick, no need for call backs - there is no need to have a sampling frame
36
What are some disadvantage of quota sampling
- the sample i often biased, people whose occupatio
37
what are the different methods of data collection
- telephone interviews - postal questionnaire - internet surveys - email surveys
38
what are advantages of telephone interviews
- high response rate - answer to questions are spontaneous - questionnaire can be long and more complex - interviewers can probe and explain the question to the respondent
39
what are some disadvantages of telephone interviews
- high cost of interviews [ training, salaries, expenses] - danger of interview bias [ particularly when the interviewer is probing and explaining the question to the respondent ]
40
what are advantages of postal questionnaires
- cheapness - no interview bias - can have a larger sample and improve precision - may obtain a considered reply
41
what are disadvantages of postal questionnaires
- possibility of low response rate - answers are not spontaneous - no possibility of probing
42
which method of survey used will have a advantage where the population you choose to interview is geographically dispersed
internet surveys
43
what is a added benefit of using internet surveys
with all forms of electronic interviews, the software automatically records data as it is typed in, thereby removing problems associated with audio-recording and transcription such as cost, accuracy, and participant's apprehension
44
what is an email survey
an email survey consists of emails containing a small number of questions rather than one email consisting of a series of questions
45
what is a questionnaire
a questionnaire is research too used to collect data from respondents. it consists of a series of questions designed to gather information quickly systematically
46
what are closed questions
closed questions are questions with a limited set of responses
47
48
what are examples of closed questions
yes or no questions, or MCQ
49
what are advantages of closed questions in questionnaires
- easier to analyse and compare responses - quicker for respondents to complete
50
what are open questions
open questions are questions that allow respondents to answer in their own words
51
what is an example of a open question
what are your thoughts on the new job evaluation scheme
52
what are advantages of open questions
- provide detailed and quantitative answers - allows respondents to express opinions freely
53
what are some considerations when designing a questionnaire
- be short and simple - avoid lengthy or complex questions - be unbiased - avoid leading questions that influence responses - minimise calculations - ensure respondents do not need to perform complex calculations
54
what are some common issues in questionnaires
- leading or biased questions - ambiguous or confusing questions - double barreled questions
55
what are biased questions
a biased question is a question that is framed in a way that influences or steers the respondent toward a particular answer, often by favoring one perspective over others.
56
what are advantages of using closed questions over open questions
- easier to analyse - quicker for respondents to answer - reduces misunderstandings by providing clear options
57
how do you calculate a sampling fraction
divide the sample size by the population size
58

Lcci Business stats (5 decks)

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