Lecture 4_ Quantitative Research, Decision Science & Quantitative Data analysis Flashcards
What is quantitative research?
A method of inquiry that focuses on quantifying relationships, behaviors, and phenomena using statistical, mathematical, or computational techniques.
What are typical strategies for quantitative research?
- Surveys
- Experiments
- Secondary data analysis
What is a management problem in the context of quantitative research?
A theoretical knowledge gap regarding a topic that has not yet been verified or proven.
What is an example of a hypothesis in quantitative research?
Digitization of purchase order processing will enhance productivity of buyers.
What is the purpose of reviewing evidence in quantitative research?
To assess existing academic literature on the topic and formulate theories that may need testing.
What is the role of deductive logic in research design?
To derive specific hypotheses from general theories or existing knowledge.
What types of data are collected in quantitative research?
Quantitative data.
What is the primary method of data analysis in quantitative research?
Quantitative (statistical) analysis.
What are research outcomes in quantitative research?
Proof or rejection of the hypothesis regarding the effect of variables.
What factors make recommendations from quantitative research convincing?
- The theory is tested and found to be true
- Generalizability of the findings
What is a conceptual model in theory-testing research?
A graphical representation of all hypotheses and hypothesized relationships.
What does a good hypothesis formulation include?
The direction of effect, such as ‘A increases B’ or ‘the more A, the more B.’
What defines an independent variable in a hypothesis?
A variable that explains the change in the dependent variable.
What is a dependent variable?
A variable that is changed or influenced by the independent variable.
What is a moderating variable?
A variable that changes the strength of the relationship between two other variables.
What is a mediating variable?
A variable that transmits the effect of one variable on another.
What considerations should be made in survey design?
- Which variables to measure
- Questionnaire design
- Pilot testing
What is the importance of a blind design in experiments?
To prevent bias by ensuring participants do not know which group they belong to.
What is decision science?
The discipline concerned with the development and application of quantitative methods to support decision-making.
What are the core elements of a decision problem?
- Decisions
- Objectives
- Constraints
Why use quantitative methods in decision science?
- Save costs
- Handle large decision spaces
- Make systematic trade-offs
- Deal with uncertainty
- Avoid biases
What is the typical process for a decision science project?
- Understand the decision problem
- Formulate mathematical model
- Select/develop a solution method
- Solve the problem
- Present conclusions
What types of data are used in decision science research?
- Primary data
- Secondary data
- Empirical data
- Simulated data
When is secondary analysis used as a research method?
- Suitable secondary data set is available
- Access to subjects is restricted
- Sensitive topics are involved
What are methodological questions in decision science?
Questions focusing on how to model and solve decision problems efficiently.
What are theoretical questions in decision science?
Questions examining the fundamental characteristics of decision problems and solutions.
What are practical questions in decision science?
Questions addressing real-world applications of decision science methods.
What is the significance of formulating a problem in decision science?
The formulation of a problem is often more essential than its solution.
