MKF2121 WEEK2.docx - MKF2121 WEEK2 Develop an approach to the problem An approach consists of the following items An analytical framework or model

MKF2121 WEEK2.docx - MKF2121 WEEK2 Develop an approach to...

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MKF2121 WEEK2 Develop an approach to the problem An approach consists of the following items • An analytical framework or model • Research Questions • Hypotheses • Specification of the Information Needed The 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 analysis Variable • 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 questionnaire Examples of some routinely investigated variables • Brand awareness • Attitudes towards a brand • Intention to buy • Importance of factors • Various demographic characteristics • Satisfaction of experience Sometimes, you will encounter the concepts dependent variable (DV) and independent v ariable (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 to your 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.
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In this unit, we focus mostly on two types of RQs • Relational – is there a relationship between two variables?
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  • Two '16
  • overall satisfaction, RQS

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