INTRODUCTION II Flashcards
What are the categories of data based on nature
1,Qualitative data (categorical)- Data that can be put in distinct partition or categories according to some defining the characteristics. Examples: Eye color (blue, black), Gender (Male, female)
2.Quantitative data (Numerical) - measures that take numerical values. They can be put into an order and further divided into two groups: discrete data or continuous data.
Describe discrete and continuous
- Discrete data are countable data and are collected by counting, for example, the number of defective items produced during a day’s production, family size e.t.c
- Continuous data – data that can be assigned an infinite number of values between whole numbers. They are collected by measuring and are expressed on a continuous scale. For example, measuring the height of a person, temperature e.t.c
What is the function of Levels of measurements (measures of scale)
Measurement scales are used to categorize and/or quantify variables
What are the properties of measurement scales
- Identity. Each value on the measurement scale has a unique meaning.
- Magnitude. Values on the measurement scale have an ordered relationship to one another. That is, some values are larger and some are smaller.
- Equal intervals. Scale units along the scale are equal to one another. This means, for example, that the difference between 1 and 2 would be equal to the difference between 19 and 20.
- Absolute zero. The scale has a true zero point, below which no values exist.
Describe a nominal scale of a measurement
The nominal scale of measurement only satisfies the identity property of measurement. Values assigned to variables represent a descriptive category, but have no inherent numerical value with respect to magnitude.
Gender is an example of a variable that is measured on a nominal scale. Individuals may be classified as “male” or “female”, but neither value represents more or less “gender” than the other.
Describe a nominal scale of a measurement
The ordinal scale has the property of both identity and magnitude. Each value on the ordinal scale has a unique meaning, and it has an ordered relationship to every other value on the scale.
An example of an ordinal scale in action would be the results of a horse race, reported as “win”, “place”, and “show”. We know the rank order in which horses finished the race. The horse that won finished ahead of the horse that placed, and the horse that placed finished ahead of the horse that showed. However, we cannot tell from this ordinal scale whether it was a close race or whether the winning horse won by a mile.
Describe a interval scale of a measurement
The interval scale of measurement has the properties of identity, magnitude, and equal intervals.
A perfect example of an interval scale is the Fahrenheit scale to measure temperature. The scale is made up of equal temperature units, so that the difference between 40 and 50 degrees Fahrenheit is equal to the difference between 50 and 60 degrees Fahrenheit.
With an interval scale, you know not only whether different values are bigger or smaller, you also know how much bigger or smaller they are.
Describe a nominal scale of a measurement
The ratio scale of measurement satisfies all four of the properties of measurement: identity, magnitude, equal intervals, and an absolute zero.
The weight of an object would be an example of a ratio scale. Each value on the weight scale has a unique meaning, weights can be rank ordered, units along the weight scale are equal to one another, and there is an absolute zero.
Absolute zero is a property of the weight scale because objects at rest can be weightless, but they cannot have negative weight.
What are the methods of the collecting data
experiments, surveys, direct observation
Describe experiments
Manipulating of one or more independent variables to see how the dependent variable are affected
- Independent variables: Those over which the researcher has control and wishes to manipulate e.g package size, prices
- Dependent variables: those over which the researcher has little or no direct control but has a string interest in testing e.g profits, market share
Give an example of an experiment
Considerable data is generated or collected through experimentation in business research. A bank may conduct an experiment to know what attracts depositors: profit or security or liquidity. In case of field experiment, a bank may advertise that one of its branches is celebrating 100thanniversary and is offering 3% over and above its normal returns of 6%. If high return attracts more deposits, the clients would shift their saving towards that branch but if clients feel convenience is more important, there would not change in deposit levels.
Describe direct observations
the systematic process of recording the behavioral patterns of people, objects and occurrences without questioning or communicating with them. Observation is the main source of information in the field research. The researcher goes into the field and observes the conditions in their natural state.
Describe surveys
surveys involve the selection and study of a sample of items from a population. Surveys can be conducted in different methods:
Mail survey:
Describe questionnaires
a list of questions open-ended or close -ended for which the respondents give answers.
Describe interviews
Interview is a face-to-face conversation with the respondent. In interview the main problem arises when the respondent deliberately
hides information otherwise it is an in depth source of information. The interviewer can not only record the statements the interviewee speaks but he can observe them enabling them to draw conclusions easily.
