Concept Application of Concept in Scenario Reference to Concept in Reading
Researchable USA World Bank will need to know if their new program they want to launch is possible. They know that these types of ventures can be successful and believe their bank is ready. They will need to know more about their customers to be able to move forward. The research firm, Best Market Research will provide services to provide an organized inquiry to assist them in decisions. The research includes "reporting, descriptive, explanatory, and predictive studies" (Cooper, 2003, p. 26).
Levels of Measurement:
Ratio New board member and statistician Bea Hansen pointed out that the data collected from the focus groups and online surveys must be sorted and arranged in an appropriate manner(Scenario: USA World Bank). Nominal has no distinguishable advantage from one to another. Ordinal can be ranked but the distances between the rankings vary. Interval means there is a constant standard of measurement but zero has no true meaning. Ratio has a constant standard and zero is an absolute that means the complete absence of something. “There are actually four levels of measurement: nominal, ordinal, interval, and ration. The lowest, or the most primitive, measurement is the nominal level. The highest, or the level that gives us the most information about the observation, is the ratio level of measurement.” (Lind, 2003, p.10).
Validity and Reliability The USA World Bank directors were very cautious with the new Reward Program and Brian had to make sure the data was thoroughly reviewed and asked Mary if the information was reliable and valid. This is because "omission of significant procedural details makes it difficult or impossible to estimate the validity and reliability of the data and justifiably weakens the confidence of the reader in the research itself…"(Cooper, 2003, p. 16).
The difference between a...