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MKF2121 WEEK2Develop an approach to the problemAn approach consists of the following items • An analytical framework or model • Research Questions • Hypotheses • Specification of the Information NeededThe reasons for developing research question (RQ) and hypothesis (H) and their relationship with MRP • Components of MRP are still too broad/vague and cannot be answered directly • Components provide the general categories from which specific RQs can be developed • RQs should be able to be answered directly with data collection and analysisVariable • Variable is an entity that can take on different values to represent an underlying concept – Example: income, age, brand awareness, customer satisfaction – It doesn’t have to be about quantity, e.g., gender, nationality, etc – It needs to vary (i.e., different people could have different values) • Most variables in this unit correspond to one question in the survey questionnaireExamples of some routinely investigated variables • Brand awareness • Attitudes towards a brand • Intention to buy • Importance of factors • Various demographic characteristics • Satisfaction of experienceSometimes, you will encounter the concepts dependent variable (DV) and independent variable (IV) • The value of the DV (dependent variable, or Y) changes as a result of the change in the value of the IV (independent variable, or X), but not the other way around • In another word, IV is “predictive” of DV (i.e., the IV affects the DV) • Example – Amount of smoking (IV) and the probability of getting cancer (DV) – Income (IV) and how much people spend on buying a car (DV)Research question and hypothesis • Research questions (RQ)– precisely stated conjectural questions about the relationship between variables relevant toyour MRP – In particular, questions involve the customer attitude/behavior you are trying to study – “Conjectural” because they need to be tested with data • Hypothesis (H) –a tentative and conjectural relationship between variables that is stated in a declarative form. – essentially a re-statement the RQ in the affirmative.– Later in the semester, we will need to learn to state hypothesis more formally (as null and alternative hypothesis). But no need for that now.
In this unit, we focus mostly on two types of RQs • Relational – is there a relationship between two variables?