University of Phoenix
Managerial Decision Making
G. Mark Waltensperger
April 2, 2008
Research Design and Statistics Concepts Worksheet
ConceptApplication of Concept in ScenarioReference to Concept in Reading Concepts of validity, reliability and practicality.Research must be valid and reliable. Validity insures that what is being measured is actually being measured. With out reliability and validity the research becomes questionable and is no longer a good source on which to base business decisions. Sound measurement must meet the tests of validity, reliability and practicality (Lind, 2005).
The USA World Bank directors were very cautious with the new Reward Program and Brian had to make sure the data was thoroughly reviewed and asked Mary if the information was reliable and valid (Anonymous, 2008). This is because omission of significant procedural details makes it difficult to estimate the validity and reliability of the data and justifiably weakens the confidence of the reader in the research itself.In the scenario Aaron tells Jim that he will lose 40% of his customers if the small business card does not get launched. Jim questions Aaron how he comes to the conclusion of 40% (Anonymous, 2008). Aaron states he bases this percentage on his discussions with his customers. Jim is correct in identifying research must be valid and reliable before business decisions are made.
Secondary and Primary Research
Conducting a research study, all available data should be analyzed to learn more about their project. However, after reviewing, management can then move forward and collect their own primary data by way of questionnaires and obtaining answers they have carefully prepared for more precise information on their target group (Scenario, 2008).
In general there are two types of research, primary and secondary. Management must understand the difference between the two types of...