26 Sep 2022

67

Quantitative Methods and Analysis

Format: APA

Academic level: College

Paper type: Essay (Any Type)

Words: 1231

Pages: 4

Downloads: 0

Week 1 

Types of research experienced 

I have encountered a wide range of research in my experience. The research has been of both the qualitative and the quantitative type. One of the research exercises sought to determine the use of contraceptives among college students. Another research examined the political views of Americans. There was yet another research exercise whose primary purpose was to determine if climate change is an issue that concerns the American people. Perhaps the most intriguing research that I have experienced is one whose primary objective was to determine the amounts that college students have stashed away for their retirement. The finding was that most college students are not preparing for retirement as their savings are worryingly low.

Qualitative vs. quantitative variables 

The debate over which variables to use in research is very difficult to settle. Both qualitative and quantitative variables are routinely used in research. None of the two types is superior. Each possesses unique advantages that make them suitable for their respective research projects. For example, quantitative variables allow researchers to obtain insights that are numerical and quantifiable (O’Dwyer & Bernauer, 2013). Furthermore, quantitative variables allow for easy comparisons and are easier to make sense of. On the other hand, qualitative variables prove useful when the research question is not numerical. For example, when one wishes to understand what the effects of alcohol consumption are, qualitative variables would be most appropriate. Instead of being concerned about the better variable type, focus should be given to ensuring that the variable selected matches the research question and objectives.

It’s time to jumpstart your paper!

Delegate your assignment to our experts and they will do the rest.

Get custom essay

Applied and basic research 

Applied and basic are the main types of research. Applied research is primarily concerned with offering explanations for certain observed phenomena (Hall, 2008). This type of research reveals insights that can be applied to a wide range of scenarios. Insights from applied research are employed in real world situations. On the other hand, basic research examines simple situations with the aim of understanding the particular situation. Research of the basic type has limited practical application (Hall, 2008). This is not to say that this research type does not reveal any useful insights. It is important for managers to have some knowledge of research. This is because this knowledge allows the managers to apply research to improving the operations of their firms.

Week 2 

Probability in research 

Classical, empirical and subjective are the main approaches to probability. Classical probability relies on established procedures and formulae for determining the probability of a given event occurring (“What is Probability?”, n.d). Empirical probability is used for the same purpose but it uses experiments such as tossing a dice. Subjective probability involves making guesses based on intuition (“What is Probability?”, n.d). Each of these approaches is valid in its own right. However, classical approach is the best approach. This is because since standard procedures and methods are used, it is possible to obtain the standard results across all situations. Empirical probability delivers results that vary with different experiments while subjective probability is simply unreliable as it is pegged on the intuition of the individual.

Conditional vs. joint probability 

When measuring probability, different scenarios are examined. Conditional and joint probability are used to measure the likelihood of these scenarios. Conditional probability measures the chance of an event A occurring given that event B has occurred (“Probability: Joint”, n.d). On the other hand, joint probability examines the likelihood of two events occurring. Conditional probability is best to use since it does more than merely measuring the likelihood of the occurrence of two events. It offers insights into the possible causal relationship between the two events. For example, conditional probability would allow a researcher to determine the likelihood of rain given that it has been hot and dry over the previous week. This research is able to obtain a result that allows for the relationship between the two events to be established.

Week 3 

Data sources, reliability and validity 

Research relies on data that is obtained from various sources. These sources include surveys, questionnaires, observation and experiments. These examples are primary sources of data. Data can also be obtained from such secondary sources as documents, census and market studies. It is vital to establish that the data used is both reliable and valid. Test-retest reliability and parallel forms reliability are some of the tests conducted to ensure that data is reliable (Phelan & Wren, 2006). Validity of the data can be established using face validity and criterion-related validity tests. Different data samples can be used to conduct research. When carrying out research, I would use data samples from primary sources. This is because these samples are less likely to have been tampered with and are therefore more accurate and reliable.

Data collection strategies and research design 

In my experience, I have encountered a number of different strategies for collecting data and designing research. Some of these strategies include carrying out interviews and surveys. I have also witnessed the administration of questionnaires and lab experiments. I have also observed researchers examine previous studies and other literature. Consulting experts and carrying out observations are the other data collection strategies that I have witnessed being employed. Some of the research design techniques that I am familiar with through experience include adopting established standards for research and developing research questions that are specific to the situation to be explored in the research.

Week 4 

Experience with hypothesis testing 

I am fairly experienced with hypothesis testing. Most of the hypotheses that I have tested have been rather simple. I once set out to determine how many new students the school would admit. I relied on data from previous years to test this hypothesis. I have also tested how long my savings would last. My previous experience served as my primary source of data. I have also been involved in more serious hypothesis testing. For example, I have witnessed a scientific study that sought to test the hypothesis that some drug would address the symptoms of some drug.

Methods for answering hypotheses 

One and two sample parameter tests can be used for hypothesis testing. I find that the latter test yield better results and offer deeper insights. This is because two sample parameter tests focus on two groups while the one sample parameter test involves just one group. It is possible to make comparisons when two samples are used. For instance, a two sample parameter test can focus on the means of two samples. The two means can be compared. On the other hand, when one uses just one sample, the insights that they obtain only apply to that one sample. There is no other parameter from a different group that can be used for comparison purposes.

Week 5 

Types of data for different graphs 

Different graphs are used to display various types of data. While almost all graphs can be used to show almost all data types, there are data types that are best suited for certain graphs. For instance, a box and whisker plot would be appropriate when one is using data with outliers. This is because this graph shows the spread of data. Histograms are appropriate for organized data. Line graphs are more dynamic as they can display virtually all data types. Pie charts can be used for presenting data that is not too cluttered and whose magnitude is significant.

Data to showcase an example 

I have used data on numerous occasions for various purposes. I find data to be most useful when one wishes to make an example clearer. I was once required to defend the argument that stricter penalties are effective in curbing road accidents and traffic violations. To do this, I used data. I compared the traffic fatalities in European countries with very tough traffic rules with data on the number of fatalities reported on US roads. The data that I used allowed me to convince my audience that stricter rules play an important role in promoting discipline on the road. It is evident that data is useful for showcasing examples.

References

Hall, R. (2008). Applied Social Research: Planning, Designing and Conducting Real- World Research. Victoria Park, WA: Macmillan Education AU.

O’Dwyer, L. M. & Bernauer, J. A. (2013). Quantitative Research for the Qualitative Researcher. Thousand Oaks, CA: SAGE.

Phelan, C. & Wren, J. (2006). Exploring Reliability in Academic Assessment. Retrieved 27 th June 2017 from https://chfasoa.uni.edu/reliabilityandvalidity.htm 

Probability: Joint, Marginal and Conditional Probabilities. (n.d). Retrieved 27 th June 2017 From http://sites.nicholas.duke.edu/statsreview/probability/jmc/ 

What is Probability? (n.d). Retrieved 27 th June 2017 from https://www.ma.utexas.edu/users/mks/statmistakes/probability.html 

Illustration
Cite this page

Select style:

Reference

StudyBounty. (2023, September 16). Quantitative Methods and Analysis.
https://studybounty.com/quantitative-methods-and-analysis-essay

illustration

Related essays

We post free essay examples for college on a regular basis. Stay in the know!

Texas Roadhouse: The Best Steakhouse in Town

Running Head: TEXAS ROADHOUSE 1 Texas Roadhouse Prospective analysis is often used to determine specific challenges within systems used in operating different organizations. Thereafter, the leadership of that...

Words: 282

Pages: 1

Views: 93

The Benefits of an Accounting Analysis Strategy

Running head: AT & T FINANCE ANALLYSIS 1 AT & T Financial Analysis Accounting Analysis strategy and Disclosure Quality Accounting strategy is brought about by management flexibility where they can use...

Words: 1458

Pages: 6

Views: 81

Employee Benefits: Fringe Benefits

_De Minimis Fringe Benefits _ _Why are De Minimis Fringe Benefits excluded under Internal Revenue Code section 132(a)(4)? _ De minimis fringe benefits are excluded under Internal Revenue Code section 132(a)(4)...

Words: 1748

Pages: 8

Views: 196

Standard Costs and Variance Analysis

As the business firms embark on production, the stakeholders have to plan the cost of offering the services sufficiently. Therefore, firms have to come up with a standard cost and cumulatively a budget, which they...

Words: 1103

Pages: 4

Views: 180

The Best Boat Marinas in the United Kingdom

I. Analyzing Information Needs The types of information that Molly Mackenzie Boat Marina requires in its business operations and decision making include basic customer information, information about the rates,...

Words: 627

Pages: 4

Views: 97

Spies v. United States: The Supreme Court's Landmark Ruling on Espionage

This is a case which dealt with the issue of income tax evasion. The case determined that for income tax evasion to be found to have transpired, one must willfully disregard their duty to pay tax and engage in ways...

Words: 277

Pages: 1

Views: 120

illustration

Running out of time?

Entrust your assignment to proficient writers and receive TOP-quality paper before the deadline is over.

Illustration