Quantitative analysis of business 2022

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Quantitative analysis of business
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Part 1
a) Type of survey method
Survey is a technique applicable for collecting and compiling data from a group of people
or objects known as a sample (subset of a population). There are three types of survey, which
include cross-sectional, longitudinal, and retrospective surveys (Bhat, 2019). The cross-sectional
surveys are administered to a small sample from a larger population within a limited time frame.
Notably, the cross-sectional survey offers a researcher an opportunity to summarize the opinions
of the respondents at a given time. Longitudinal surveys are applicable in making observation
and collecting of data over an extended period of time. There are three main types of longitudinal
survey, which include, trend, panel, and cohort surveys (Bhat, 2019). Trend surveys are
applicable in determining the shift or transformation in the thought process of respondent over a
period of time whereas panel surveys are administered to the same group of people over the
years. On the other side, cohort surveys are administered to people that meet certain criteria or
characteristics.
The retrospective surveys are administered with an aim of collecting data from past
events. Therefore, among the above surveys the moat appropriate type of survey for collecting
the data is the longitudinal survey, specifically the cohort survey. As evident, the sociologist
hypothesized people who watch television frequently are exposed to many commercials tend to
buy the products, which results in debt. Thus, the study will only administer the survey to people
who watch or own a television set (criteria or characteristics of the respondent).
b) Sampling method
There are two main method of sampling, which include the probabilistic and non-
probabilistic sampling methods (Singh, 2018). The probabilistic sampling uses the randomization

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to ensure that all elements of the population have an equal chance of being selected in the
sample. They include simple random, stratified, systematic, cluster, and multi-stage sampling.
On the other side, non-probabilistic sampling does not use randomization rather the method
relies on the researcher’s ability to select elements for the sample. They include convenience,
purposeful, quota, and snowball sampling. Notably, the main purpose of the study is to exhibit
the relationship between the number of hours families are exposed to watching television and the
debts accrued by the family. Therefore, the appropriate method of sampling is the non-
probabilistic, specifically purposive sampling since the elements will be selected from the
population which suits the purpose of the study.
c) Challenges of the methods
However, there are various challenges expected during data collection, which include
biasness and influences beyond the control of the researcher; besides, the study may experience
high level of sampling error.
Part 2
a) Class intervals
As evident, both the number of hours exposed to television and debt have 10 class
intervals. The class intervals are given by diving the highest-class size boundary by the class
size.
i. Number of hours exposed to television per week
Highest class size limit = 60
Class size = 6
Number of class size = 60 / 6 = 10