Basic Concepts: Research, Bus. Research; Methods and methodology; population and sample; census and sampling; variable and attribute; Operational definition; Data, information and knowledge;
Research is a process of identifying the status of a phenomenon through deploying various methods in a systematic manner.
Research is a systematic process of identifying the problems, defining the questions and objectives, identifying the variables/ indicators to address the objectives, collecting, compiling, processing and analyzing data to assess the inherent characteristics of the phenomenon under study and to identify the objective basis for arriving at a correct/reliable decision.
• Methodology is a combination of methods
• Methods are individually applicable.
❖ By variable we mean the characteristics which can be measured and numerically expressed and the magnitude of which varies from individuals to individuals, item to item.
Profit, sales, age + continuous; family member – discontinuous (discrete)
The characteristic which cannot be expressed numerically but indicates a difference in the quality of the phenomenon is unknown as an attribute. For example, Efficiency (Efficient/inefficient), Skill (skilled/unskilled).
❖ Indicator – The parameter, information/data on which cannot be collected directly but can be estimated based on the data or information collected on other variables and attributes.
Population and Sample
A population is the complete set of all items in which an investigator is interested. A population is the set of all of the outcomes from a system or process that is to be studied. N represents population size.
Examples of Populations
➢ Names of all registered voters in the United States. ➢ Incomes of all families living in Daytona Beach.
➢ Annual returns of all stocks traded on the New York Stock Exchange. ➢ Grade point averages of all the students in...