American History
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Research Design and Statistics Concepts Worksheet
University of Phoenix
MBA 510
Week One Assignment
Research Design and Statistics Concepts Worksheet
Concept
Application of Concept in Scenario
Reference to Concept in Reading
Validity and Reliability of Data
The validity and reliability of data is critical for all company research. An example of this was revealed in the scenario during the presentation of the consumer reward product. After initial review, the data was exposed of its uncertainty and non-relevance of the actual information needed. The simulation also emphasized the importance of correct data measurements for major business decisions and forecasting.
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Validity
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Reliability
“If a standard deviation observed in a previous study is thought to be reliable, it can be used in the current study to help provide an approximate at 932 Main, 941 Main, 950 Main, and so on.” (Lind, 2004)
Varying levels of measurement
Various levels of measurements are needed for an accurate account of what real measurements are without the possibility of skewed data. This also provides an overview from different perspectives depending on the agenda of business actions. Various levels also allows data to be collected from personal to general levels while still obtaining the overall data needed. Utilizing all levels helps minimize any uncertainty of position.
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Nominal
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Ordinal
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Interval
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Ratio
“There are also tests exclusively for data of nominal scale of measurement. Recall from Chapter 1 that nominal data is the “lowest” or most primitive.” (Lind, 2004)
Primary vs. Secondary Research
Primary and secondary research is prominent in revealing alternative solutions as well as allowing researched data to be confirmed. In the scenario, the small business proposal had both primary and secondary evaluations to back up the presentation in contrast to the consumer product proposal. The simulation also demonstrated the importance of utilizing several measurement factors in order to obtain the best possible data available prior to rolling out business decisions and products.
“…with financial reporting from companies such as Enron, professional practices with statistical research and reporting is strongly encouraged by the American Statistical AssociationвЂ¦Ð²Ð‚Ñœ (Lind, 2004)
Sampling Methods
Sampling methods