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Research Methodology

Q-1. What are the advantages & disadvantages of primary data?

Ans: Primary sources are original sources from which the researcher directly collects data that have not been previously collected e.g., collection of data directly by the researcher on brand awareness, brand preference, brand loyalty & other aspects of consumer behavior from a sample of consumers by interviewing them. Primary data are first hand information collected through various methods such as observation, interviewing, mailing etc. Advantages of Primary Data. • • • • It is original source of data It is possible to capture the changes occurring in the course of time It is flexible to the advantages of researcher Extensive research study is based of primary data

Disadvantages of Primary Data. • • • • Primary data is expensive to obtain It is time consuming It requires extensive research personnel who are skilled. It is difficult to administer.

Q-2. In processing data, what is the difference between Median & Mode? What are the advantages & disadvantages of Median? Ans: Data in the real world often comes with a large quantum & in a variety of formats that any meaningful interpretation of data cannot be achieved straightway. Social Science researches, to be very specific, draw conclusions using both primary & secondary data. To arrive at a meaningful interpretation on the research hypothesis, the researcher has to prepare his data for this purpose. This preparation involves the identification for research analysis is teamed as processing of data. Further selections of tools for analysis would to a large extent on the results of this data processing. Median: Median is the middlemost item of a given series. In individual series, we arrange the given data according to ascending or descending order & take the middlemost item as the median. When two values occur in the middle, we take the average of these two values as

median. Since median is the central value of an ordered distribution, there occur equal number of values to the left & right of the median. Individual series: Median Mode: Mode is the most repeating value of a distribution. When one item repeats more number of times than other or when two items repeat equal number of times, mode is ill defined. Under such case, mode is calculated by the formula (3 median – 2 mean). Mode is widely used measure of central tendency in business. We speak of model wage which is the wage earned by mot of the workers. Model shoe is the mostly demanded shoe. Merits of Median: • • • • • • Median is easy to calculate & simple to understand. When the data is very large median is the most convenient measure of central tendency. Median is useful finding average for the data with open ended classes. The median distributes the values of the data equally to either side of the median. Median is not influenced by the extreme values present in the data. Values of the median can be graphically determined. = (N+1/2)th item

Demerits of Median: • • • • To calculate median, data should be arranged according to ascending order. This is tedious when the number of items in a series is numerous. Since the value of median is determined by observation, it is not a true representation of all the values. Median is not amenable to further algebraic treatment The value of median is affected by sampling fluctuation.

Q-3. What is the difference between a casual relationship & correlation? What are the possible reasons for a correlation between two variables? Ans: Economic & business variables are related. For instance, demand & supply of a commodity is related to its price. Demand for a commodity increases as price falls. Demand for a commodity decreases as its price rises. We say demand & price are inversely related or negatively correlated. But sellers supply more of a commodity when its price rises. Supply of the commodity decreases when its price falls. We say supply & price are directly related or positively co-related. Thus, correlation indicates the relationship between two such variables in which changes in the value of one variable is accompanies with a change in the value of other variable. According to L.R.Connor, “ if two or more quantities vary in sympathy so that movements in the one tend to be accompanied by corresponding movements in the others(s) they are said to be correlated. W.I.King defined “Correlation means that between two series or groups of data, there exists some casual connection.” The definitions make it clear that the term correlation refers to the study of relationship between two or more variables. Correlation is a statistical device, which studies the relationship between two variables. If two variables are said to be correlated, change in the value of one variable results in a corresponding change in the value of the other variable. Heights & weights of a group of people, age of husbands & wives etc., are examples of bi-variant data that change together. Correlation and Causation Although, the term correlation is sued in the sense of mutual dependence of two or more variable, it is not always necessary that they have cause & effect relation. Even a high degree of correlation between two variables does not necessarily indicate a cause & effect relationship between them. Correlation between two variables can be due to following reasons: • • Cause & effect relationship: Heat & temperature are cause & effect variable. Heat is the cause of temperature. Higher the heat, higher will be the temperature. Both the correlated variables are being affected by a third variable. For instance, price of rice & price of sugar are affected by rainfall. Here there may not be any cause & effect relation between price of rice & price of sugar. Related variable may be mutually affecting each other so that none of them is either a cause or an effect. Demand may be the result of price. There are cases when price rise due to increased demand.

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The correlation may be due to chance. For instance, a small sample may show correlation between wages & productivity. That is higher wage leading to lower productivity. In real life it need not be true. Such correlation is due to chance. There might be a situation of nonsense or spurious correlation between and two variables. For instance, relationship between number of divorces & television exports may be correlated. There cannot be any relationship between divorce & exports of television.

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The above points make it clear that correlation is only a statistical relationship & it does not necessarily signify a cause & effect relationship between the variable. Q-4. What are the types of correlation analysis? Explain each.

Ans: Types of correlation Correlation can be: • • • Positive or negative Linear or non-linear Simple, multiple or partial

Positive & Negative Correlation: When values of two variables move in the same direction, correlation is said to be positive. When prices rise, supply increases and when prices fall supply decreases. In this case, an increase in the value of one variable on an average, results in an increase in the value of other variable or decrease in the value of on one variable on an average results in the decrease in the value of other variable. If on the other hand, values of two variables move in the opposite direction, correlation is said to be negative. When prices rise, demand decreases & when prices fall demand increases. In this case, an increase in the value of one variable on an average results in a decrease in the value of other variable. Linear & Non-linear Correlation: When the change in one variable leads to a constant ratio of change in the other variable, correlation is said to be linear. In case on linear correlation, points of correlation plotted on a graph will give a straight line. Correlation is said to be non-linear when the change in one variable is not accompanied by a constant ratio of change in the other variable. In case of non linear correlation, points of correlation plotted on a graph do not give a straight line. It is called curvilinear correlation because graph of such correlation results in a curve.

Simple, Partial & Multiple Correlations: Simple correlation studies relationship between two variables only. For instance, correlation between price & demand is simple as only two variables are studied in tjis case. Multiple correlation studies relationship of one variable with many variables. For instance correlation of agriculture production with rainfall, fertilizer use & seed quality is a multiple correlation. Partial correlation studies the relationship of a variable with one of the many variables with which it is related. For instance, seed quality, temperature & rainfall are three variables, which determine yield of a crop. In this case, yield & rainfall is a partial correlation. Utility of Correlation: Study of correlation is of immense practical use in business & economics. • • • Correlation analysis enables us to measure the magnitude of relationship existing between variables under study. Once we establish correlation, we can estimate the value of one variable on the basis of the other. This is done with the help of regression equations. The correlation study is useful for formulation of economic policies. In economics, we are interested in finding the important dependant variables on the basis of independent variable. Correlation study helps us to make relatively more dependable forecasts.

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Q-5. What is a scatter diagram and how does it help to read the correlation between two variables? Ans: Methods of studying correlation

Scatter Diagram: This is a graphical method of studying correlation between two variables. In scatter diagram , one variable is measured on the x-axis & the other is measured on the y-axis of the graph. Each pair of values is plotted on the graph by means of dot marks. If plotted points do not show any trend, two variables are not correlated. If the trend shows upward rising movement, correlation is positive. If the trend is downward sloping, correlation is negative. Q-6. You are engaged to carry out a market survey on behalf of a leading Newspaper that is keen to increase its circulation in Bangalore city, in order to ascertain reader habits & interest. Formulate an outline of the Research report that you would submit at the Research & briefly explain how you would present it.

ASSIGNMENTS MB0034 Set 2 Research Methodology Q-1. What are the advantages & disadvantages of Secondary data?

Ans: These are sources containing data which have been collected and compiled for another purpose. The secondary sources consists of readily compendia & already compiled statistical statements & reports whose data may be used by researchers for their studies. E.g., census reports, annual reports & financial statements of companies, statistical statements, reports of Govt departments, annual reports of currency & finance published by the Reserve Bank of India, statistical statements relating to Co operative & regional banks, published by the NABARD, reports of the national sample survey organization, reports of trade associations, publications of international organizations such as UNO, IMF, World bank, ILO, WHO, etc., Trade & financial journals etc. Advantages of Secondary data Secondary data sources have some advantages: • Secondary data, if available can be secured quickly & cheaply. Once their source of documents & reports are located, collection of data is just matter of desk work. Even the tediousness of copying the data from the sources can now be avoided, thanks to Xeroxing facilities. Wider geographical area & longer reference period may be covered without much cost. Thus, the use of secondary data extends the researchers space & time reach. The use of secondary data broadens the data base from which scientific generalizations can be made. Environmental & cultural settings are required for the study. The use of secondary data enables a researcher to verify the findings bases on primary data. It readily meets the need for additional empirical support. The researcher need not wait the time when additional primary data can be collected.

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Secondary data sources have some disadvantages: The use of a secondary data has its own limitations.

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The most important limitation is the available data may not meet our specific needs. The definitions adopted by those who collected those data may be different; units of measure may not match; & time periods may also be different. The available data may not be as accurate as desired. To assess their accuracy we need to know how the data were collected. The secondary data are not up to date & become obsolete when they appear in print, because of time lag in producing them. For example, population census data are published two or three years later after compilation & no new figures will be available for another ten years. Finally, information about the whereabouts of sources may not be available to all social scientists. Even if the location of the source is known, the accessibility depends primarily on proximity. For example, most of the unpublished official records & compilations are located in the capital city & they are not within the easy reach of researchers based in far off places.

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Q-2. In processing data, what is the difference between Median & Mode? What are the advantages & disadvantages of Mode? Ans: Data in the real world often comes with a large quantum & in a variety of formats that any meaningful interpretation of data cannot be achieved straightway. Social Science researches, to be very specific, draw conclusions using both primary & secondary data. To arrive at a meaningful interpretation on the research hypothesis, the researcher has to prepare his data for this purpose. This preparation involves the identification for research analysis is teamed as processing of data. Further selections of tools for analysis would to a large extent on the results of this data processing. Median: Median is the middlemost item of a given series. In individual series, we arrange the given data according to ascending or descending order & take the middlemost item as the median. When two values occur in the middle, we take the average of these two values as median. Since median is the central value of an ordered distribution, there occur equal number of values to the left & right of the median. Individual series: Median Mode: Mode is the most repeating value of a distribution. When one item repeats more number of times than other or when two items repeat equal number of times, mode is ill defined. Under such case, mode is calculated by the formula (3 median – 2 mean). = (N+1/2)th item

Mode is widely used measure of central tendency in business. We speak of model wage which is the wage earned by mot of the workers. Model shoe is the mostly demanded shoe. Merits of Mode: • • • • Mode is the most typical & frequented value of the distribution. It is not affected by extreme values. Mode can be determined even for series with open-ended classes. Mode can be graphically determined.

Demerits of Mode: • • • • Q-3. Ans: It is difficult to calculate mode when one item repeats more number of times than others. Mode is not capable of further algebraic treatment. Mode is not based on all the items of the series. Mode is not rightly defined. There are several formulae for calculating mode. What are the components & characteristics of a good research design? It is important to be familiar with the important concepts relating to research design. They are:

1. Dependent and Independent variables: A magnitude that varies is known as a variable. The concept may assume different quantitative values, like height, weight, income etc. Qualitative variables are not quantifiable in the strictest sense of objectivity. However, the qualitative phenomena may also be quantified in terms of the presence or absence of the attribute considered. Phenomena that assume different values quantitatively even in decimal points are known as ‘continuous variables’. But, all variables need not be continuous. Values that can be expresses only in integer values are called ‘non-continuous variables’. In statistical term, they are also known as ‘discrete variable’. For eg., age is a continuous variable, whereas the number of children is a noncontinuous variable. When changes in one variable depend upon the changes in one or more other variables, it is known as a dependent or endogenous variable, and the variables that cause the changes in the dependent variable are known as the independent or explanatory or exogenous variables. For eg. If demand depends upon price, then demand is a dependent variable, while price is the independent variable. And if, more variables determine demand, like income and prices of substitute commodity, then demand also depends upon them in addition to the own price. Then, demand is a dependent variable which is determined by the independent variables like own price, income and price of substitute.

2. Extraneous variable: The independent variables which are not directly related to the purpose of the study but affect the dependent variable are known as extraneous variables. For eg, if a researcher wants to test the hypothesis that there is relationship between children’s school performance and their selfconcepts, in which case the latter is an independent variable and the former is the dependent variable. In this context, intelligence may also influence the school performance. However, since it is not directly related to the purpose of the study undertaken by the researcher, it would be known as extraneous variable. The influence caused by the extraneous variable on the dependent variable is technically called as an ‘experimental error’. Therefore, a research study should always be framed in such a manner that the dependent variable completely influences the change in the independent variable and any other extraneous variable or variables. 3. Control: One of the most important features of a good research design is to minimize the effect of extraneous variable. Technically, the term control is used when a researcher designs the study in such a manner that it minimizes the effects of extraneous independent variables. The term control is used in experimental research to reflect the restrain in experimental conditions. 4. Confounded relationship: The relationship between dependent and independent variable is said to be confounded by an extraneous variable, when the dependent variable is not free from its effects. • Research hypothesis: When a prediction or a hypothesized relationship is tested by adopting scientific methods, it is known as research hypothesis. The research hypothesis is a predictive statement which relates a dependant variable & an independent variable. Generally, a research hypothesis must consist of at least one dependant variable & one independent variable. Whereas the relationship that are not to be objectively verified are not classified as research hypothesis. Experimental & control groups: When a group is exposed to usual conditions in an experimental hypothesis- testing research, it is known as ‘control group’. On the other hand, when the group is exposed to certain new or special condition, it is known as an ‘experimental group’. In the afore-mentioned example, the group A can be called a control group & the group B an experimental one. If both the groups may be called as’ experimental groups’. A research design may include only the experimental group or the both experimental & control groups together. Treatments: Treatments are referred to the different conditions to which the experimental & control groups are subject to. In the example considered, the two treatments are parents with regular earnings & those with no regular earnings. Likewise, if a research study attempts to examine through an experiment regarding the comparative impacts of three different types of fertilizers on the

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yield of rice crop, then the three types of fertilizers would be treated as the three treatments. • Experiments: An experiment refers to the process of verifying the truth of a statistical hypothesis relating to a given research problem. For instance, experiment may be conducted to examine the yield of a certain new variety of rice crop developed. Further, experiments may be categorized into two types namely, absolute experiment & comparative experiment. If a researcher wishes to determine the impact of a chemical fertilizer on the yield of a particular variety of rice crop. Then it is known as absolute experiment. Meanwhile, if the researcher wishes to determine the impact of chemical fertilizer as compared to the impact of bio-fertilizer, then the experiment is known as a comparative experiment. Experiment Unit: Experimental units refer to the predetermined plots, characteristics or the blocks, to which the different treatments are applied. It is worth mentioning here that such experimental units must be selected with great caution.

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Q-4. What is the role of research in a successful business? On what aspects & stages of the business is research useful? Ans. Q-5. To what extent can marketing related research be carried out for a consumer product in- house through the field staff? What are the advantages & disadvantages of such in-house studies? Q-6. What is the significance of Sampling in research & what are the characteristics of a good sample? Ans: Meaning of Sampling.

A part of the population is known as sample. The method consisting of the selecting for study, a portion of the ‘universe’ with a view to draw conclusions about the ‘universe’ or ‘population’ is known as sampling. A statistical sample ideally purports to be a miniature model or replica of the collectivity or the population constituted of all the items that the study should principally encompass, that is, the items which potentially hold promise of affording information relevant to the purpose of a given research. Sampling helps in time & cost saving. It also helps in checking their accuracy. But on the other hand it demands exercise of great care caution; otherwise the results obtained may be incorrect or misleading. Advantages / Significance of Sampling:

Sampling has the following advantages. • The size of the population: If the population to be studies is quite large, sampling is warranted. However, the size is a relative matter. Whether a population is large or small depends upon the nature of the study, the purpose for which it is undertaken, & the time & other resources available for it. Amounts of funds budgeted for the study: Sampling is opted when the amounts of money budgeted is smaller than the anticipated cost of census survey. Facilities: The extent of facilities available – staff, access to computer facility & accessibility to population elements- in another factor to be considered in deciding to sample or not. When the availability of these facilities is limited, sampling is preferable. Time: The time limit within the study should be completed in another important factor to be considered in deciding the question of sample survey. This, in fact, is a primary reason for using sampling by academic & marketing researchers. Characteristics of a good sample The characteristics of a good sample are described below: • • • • Representative ness: A sample must be representative of the population. Probability sampling technique yield representative sample. Accuracy: Accuracy is defined as the degree to which bias is absent from the sample. An accurate sample is the one which exactly represents the population. Precision: The sample must yield precise estimate. Precision is measured by standard error. Size: A good sample must be adequate in size in order to be reliable.

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