Business Research
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1. How do we decide when to do business research (or when not)?
2. Of the three research designs types (exploratory, formalized, and casual), which would you use to assess the effectiveness of an aspect of your job? Explain.
3. What are some examples of operational definitions in research design within your profession?
4. What is the purpose of sampling? What are the key points to consider when determining samples? Why be concerned about determining the size of the sample?
5. Construct confidence intervals for a mean
â?¢ What are the most important concepts you have learned construct confidence intervals for a mean?
â?¢ What would you recommend to your management/leadership based on construct confidence intervals for a mean?
â?¢ How will construct confidence intervals for a mean impact you personally and professionally?
â?¢ What is the value-added from construct confidence intervals for a mean or what difference can these concepts make to your organization? (e.g., financial savings, productivity improvements, expanded marketing activities).
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Solution Summary
This solution discussed business research and the various aspects of statistics.
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1. How do we decide when to do business research (or when not)?
A person decides to do business research when he or she is interested in finding out how the company is doing financially, globally and with customer service. This can pertain to products and services as well as with any area of interest that is brought to managements attention. For example, if a location is not getting enough sales for the products that are on the market, then management can decide how to go about studying this phenomenon, and how to approach it from there. However, in order to find out if it is not necessary, this requires much discretion, such as deciding if the funds are already there, or if a person does not need to go about it because of the lack of participants.
2. Of the three research designs types (exploratory, formalized, and casual), which would you use to assess the effectiveness of an aspect of your job? Explain.
I would use formalized in order to assess the effectiveness of an aspect of my job. This is because everyone would need surveyed on how much they are liking it or not. However, one has to note that some level of bias could come in because of putting together a research design that would work for everyone who is wanting to participate in it at the workplace itself. At my work, I would presume two people, but what would benefit is having all the faculty and ...
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