Research Design & Statistics

Research Design & Statistics

  • Submitted By: 2ndjune
  • Date Submitted: 01/31/2009 6:57 PM
  • Category: Business
  • Words: 461
  • Page: 2
  • Views: 336

Research Design and Statistics Concepts Worksheet

Application of Concept in Scenario
Reference to Concept in Reading

1. Statistical techniques are used to make decisions that affect our daily lives (Lind, 2005, pg. 3)
Two recommendations are being reviewed for implementation; the executive team at USA World Bank must choose only one presentation to take to the Board. Statistical information is used to strengthen the reasons for choosing one over the other.
2. Data analysis determines adequacy of existing information, ferrets out misleading data, and provides ability for accurate inferences to be made. (Lind, 2005, pg. 4)
Accurate predictions of how well a product will be received and draw customers is imperative for the USA Bank’s successful business ventures.
3. Being misled with use of statistics occurs when numbers are viewed as descriptive, association between variables is misrepresented or graphs result in distorted interpretations. (Lind, 2005, p. 14-16)
Bea Hanson provides the Board members with examples of situations in which sample biases and association of variables are misleading. She points out the timing of data collection may impact the accuracy of interpretation of data.
4. Descriptive statistics organize, summarize and present data in an informative way. (Lind, 2005, pg. 6)
Results of USA World Bank survey data provide demographics on, and consumer and small business bankcard preferences. These results assist in reviewing characteristics of the banking consumer. Requesting such data on their consumers and their product preferences will assist the leadership in determining product initiatives.
5. Secondary research assists one to find answers to questions others have asked, taking their information and applying it to one’s own issue. (Detwiler, 1995, p. 12)
Bea Hanson uses outside the industry examples to assist the leadership to evaluate the validity of their current surveys
6. It is important to look...

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