Business Analysis

Business Analysis

Contents
QUESTION 1..................................................................................................................................3
A. Population:..............................................................................................................................3
B. Sampling technique.................................................................................................................4
QUESTION 2..................................................................................................................................5
1) The main differences between primary and secondary data...................................................5
b) The Merits and Demerits of primary and secondary data.......................................................7
QUESTION 3..................................................................................................................................9
QUESTION 4................................................................................................................................11
REFERENCES..............................................................................................................................14

QUESTION 1
Qualitative Research is method which is used to observe the case studies and observations
which helps in finding results in descriptive and narrative manner. It includes factors such as
positivism and interpret sociology. Qualitative Research is a procedure of analysing a collecting
numerical data. It helps in finding results by using making various predictions and using patterns
and averages. It aids researcher in knowing the insights of the data. It is feasible to conclude
whether the conclusion from the research topic. It aids in checking the various test processes and
frameworks in utilising the information in decision making.
A. Population:
Population is a distinct group of individual, whether it is comprising of group or nation
with a common characteristic. In statistics, it is a pool of person whom are under study for a
given research topic. Group which is selected needs to comprise the same features in the
population. A sample is a selected portion from the population under the study. It must be
studied by using standard error or standard deviation. Only the population under the study does
not have any standard error (Madhavi and Mehrotra, 2019) .
Members in the study should be selected randomly to properly study the characteristics of
population. The word population means that at least two or more group of people. A population
in study may comprises of the babies in the north or adults in the south at a particular period of
time. Researchers and statisticians needs to know the characteristics of the entity and population
which draws a conclusion of the study. Populations and surveys is the way in which it identifies
and validates the issues and trends which affects the population.
A sample is a random selection of members from the given population. The information
is collected from the population which allows to statisticians to develop a hypothesis of larger
group. Standard Deviation is the variation in population from the selected population under
study.
Population is majorly divided into four types:
 Finite population
 Infinite population
 Existent population
 Hypothetical population

Finite population is the countable population which is finite in numbers. It is also known as
countable population. In statistics countable population is more advantageous then infinite
population.
Infinite population is known as uncountable populations in which counting the units of
population is not possible.
Use of population in statistics:
To focus on behavior, market patterns, and examples of how people or groups in rooted
groups relate to their environmental factors, measurements of the population can be used.
Interest groups should be recognized so that any business or individual can understand who and
what information the data implies. Organizations may not understand it, in which case the
accumulated information may be of little use. Any representative group used in the comments is
referred to as a measurable populace, which simply implies individuals gathered for one or both
purposes from time to time. For example, all 30-year-old women in the UK would make up the
number of residents in a review, hoping to determine the typical load for the party. The fact is
that people can customize it according to their personal preferences. It is fundamentally
dependent on the purpose and objectives of the exam.
B. Sampling technique
By using this inspection strategy, it is possible to identify specific rules for selecting sample
organizations. The accompanying inspection technique summary contains different strategies:
 Simple random sampling: Everyone in the crowd has a similar open door or probability
of picking a person, and then, at that time, everyone is picked by some kind of
coincidence. Giving everyone a number is another step in getting an irregular sample.
Use any series of tables to determine who is involved later. For example: use three groups
of numbers in the irregular number table to select an example, if a person has 1000
people, are named 0 to 999. The individual assigned 94 is therefore chosen because the
first three digits of the irregular number table are 094 (Mokhov, Komarov and
Abrosimova, 2022).
 Systematic sampling: Another example strategy uses randomly selected individuals from
an examination outline. Proper sample size is being checked in the meantime. Test on n
people from a population of x people, if basic. Each x/n individuals should be selected for
the example. Example: If 2000 people should be divided into 200 samples, each