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# TERMS WK 1 - Types of business research 1 Applied study a...

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Population: list of items, people, organization, etc that have common characteristic we are interested in. Sample: a portion of the population: the relationship between sample and population is relative. Variable: something that changes. A characteristic of the population members that changes from member to member. Types of variables: 1) Qualitative: non-numerical: a) nominal: we can only count. b) ordinal: we can count and order. 2) Quantitative: a) Interval: we can count, we can order, the distance is the same, we can divide, zero is arbitrary. b) Ratio: has all the above + zero is meaningful and we can divide 3) Quantitative variable: a) Discrete: specific value within a range (not all values) b) Continuous: can take all the variables. Research: a systematic process of studying a phenomenon or problem.

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Unformatted text preview: Types of business research: 1) Applied: study a problem in a limited scope. 2) Basic: study a problem on a broad scope. Research process: 1) Identify a problem worth studying (problem definition). 2) Describe the purpose of the study (goal of the study). 3) Develop your research design: roadmap: a) Population or scope b) Variables to be studied ( population characteristics to be studied) c) Sample design: i) Sample size ii) Sampling method: random or non random iii) Sampling cost 4) Analyze 5) Conclusions, interpretation recommendation Data collection methods: 1) Surveys 2) Interviews (face to face), verbal 3) Secondary data (existing data) 4) Direct observation...
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