Statistics and Research

Running Head: STATISTICAL RESEARCH 1
Statistics and Research
Name of Student
Name of Supervisor
Course Affiliated
Date

STATISTICAL RESEARCH 2
Executive summary
Conducting research seems easy but without following key steps may lead to a wrong
conclusion. Businesses and organizations largely depend on researchers to decide on critical
issues concerning the running of the operation. Adopting a particular method of research need to
be correct as the outcome will be so crucial to the progress of the organization. The success of a
report depends on the willingness of the parties involved in the research. First, the management
needs to allocate appropriate fund to the experts; the researcher also needs to be accurate while
conducting the study and the corresponded also need to give facts on the questions asked.

STATISTICAL RESEARCH 3
Question 1
The sample size is necessary as it reduces the costs incurred in conducting the research.
The survey of 15,000 out of 69,000 employees was beneficial because it saves resources, time
and effort. The margin error of 2.5% with a confidence interval of 99% affect the accuracy of
the data obtains; this means a deviation of 2.5% derived from the research. The sample size in
the study is essential for any examination as its purposes are to make inferences based on the
population sample and relates directly to the parameter of the population. To determine the
sample survey, the researcher can view the principles and factors of the research or the concept
of statistic. In this scenario, the sample size (15 000) employees were approximately a third of
the whole population, and it was the best sample size for the researcher. According to Dworkin
(2012), the best sample size for any survey should fall within the confidence level of the entire
population.
In most instances, a small error margin of 5% and a confidence interval of 95% is
applicable; in this research study, the population of 69000 was spread all over the 63 branches.
The impact of this research is that some factors can affect the respondent. Working on a small
population as a sample will help the study understand the correspondent better in the process of
interaction unlike working with the entire population (Nayak, B. 2010). Working with all with a
small sample of the population or variable will help to investigate more factors as it will not
involve much computation. In the process of collecting data using questionnaires, it is essential
to use a small sample to save time and materials used in the process. Many expenses are used in
printing questionnaires and email the answer as in the case of the bank survey but using a small
sample will save on such costs.

STATISTICAL RESEARCH 4
Question 2
The current method of sampling used in data collection from the sample of bank
employees was random sampling method. It forms a total population of sixty-nine thousand
employees across the 63 banks, fifteen thousand employees participated in the survey which is
about a third of the total population representing 21%. Also, the respondents were selected
randomly with no particular quota for age, employee level or the gender. Using random sampling
method will help in obtaining the best conclusion with less bias (Mead, R. 2017). The random
sampling technique is necessary since the total population was significant to the student. The
questions were sent out to employees at random which is one fundamental property of
conducting a random sampling method. The advantages of researching random sampling method
include.
A simple random sample is easy to use as extracting the data is more accessible from a
significant population like in the study where employees were sixty-nine thousands. For instance,
in the survey, working with fifteen thousand employees is challenging to have accurate data
within the limited time of conducting research. The researchers had to give out questionnaires to
the sample population to make the process easier. The questions are simple and few; thus the
responder just took a short time to answer the questions. The calculation process is also simple as
the method does not involve complex calculation and much documentation.
Each item has an equal chance of being selected when using sampling method
(O'Mahony, M. 2017). When issuing the questionnaires selecting the respondent is done at
random without any bias. In the bank study the workers are chosen at random from the banks