Research and Statistical Methods for Business

Running head: RESEARCH AND STATISTICAL METHODS FOR BUSINESS
Research and Statistical Methods for Business

RESEARCH AND STATISTICAL METHODS FOR BUSINESS 2
Table of Contents
Q1: Sample size...............................................................................................................................3
Q2: Sampling method......................................................................................................................3
Q3: Measures of variables...............................................................................................................5
Q4: Collection of data on social demographics...............................................................................6
Q5: Research design........................................................................................................................7
References......................................................................................................................................11

RESEARCH AND STATISTICAL METHODS FOR BUSINESS 3
Q1: Sample size
This size of the sample is required due to the high amount of samples are highly proximate to the
population. Moreover, the primary objective of implementing the high amount of sample is to
gather the detail and wide category of information through a sample of the population. A
researcher has targeted larger size of the sampleto develop some assumption regarding the
research study. The size of the sample offers more reliable results with finest quality and
validity, but, there is a need for a large extent of cost with time (Mackey, and Gass, 2015).The
larger size of the sample is more essential for obtaining the results amongst variables that are
considerable distinguish.For the qualitative investigation, the purpose is to reduce the chances of
addressing failure. A high amount of sample includes more people because there is the
possibility of obtaining larger prospect data and developsan image for appraisal. Moreover, the
larger size of sample depicts theinhabitants and restricts the impact of incredible scrutiny
(Taylor, Bogdan, and DeVault, 2015).
Q2: Sampling method
Probability sampling is the existing sampling technique in this investigation. This technique
depends on the evidence that each respondent of the large population hasrecognized and equal
chances of being the selection. In this investigation, a simple random sampling technique has
chosen as population member are associated with each otherin terms of the considerable variable
(Lewis, 2015).
Advantages of using Random Sampling
Random sampling allows a researcher to obtain the evaluation of facts and figures that are
collected within the lower margin of error. It restricted that sampling should base on specific
criteria and enables an investigator to select the feasible process of sampling. The whole process

RESEARCH AND STATISTICAL METHODS FOR BUSINESS 4
relies on the randomized process which depicts the whole population. It also permits the facts to
provide the precise insight regarding specific subject concern (Glesne, 2015).
It is also determined that simple random sampling enables each respondent within the targeted
field to get identical chances of being selected. It helps to acquire more feasible facts and figures
as each respondent has 50/50 probability. It is a process of developing the inherent fairness
intothe investigation but, there is no previous evidence with regards to entailingparticipants
intothe data collection process. Another advantage of applying a simple random sampling
technique is that there is no requirement for particular comprehension with respect to gathered
data. This could be beneficial for developing the purpose and objectives in an efficientwith the
effective way (Flick, 2015).
A research can also communicate with workforces who engaged in Belgian banks that are
affiliated with joint industrial committee sector in 2001 in spite of understanding the Belgium
banking structure. Under the random sampling techniques, a question is asked and then answered
by targeted individuals. This technique could be beneficial to review the questions with the
particular purpose. A researcher can accomplish the aim with objectives of research because of
accomplishing the tasks and gathering the data by implementing the simple random sampling
procedure (Silverman, 2016).
Disadvantages of Random Sampling
In this sampling technique, each person should be personally interviewed and reviewed hence the
data can be adequately collected. When an individualis in groups, then their responses tend to be
influenced by answers of others. Hence, a researcher should deal with each individual on 1 on 1
basis (Ledford, and Gast, 2018). There is need of more resources, time with efficiency as
compared to another investigation tool. For this procedure, a high extent of competency is