Question 1- Explain the types of research.
Ans. There are different types of research and it can be classified in various ways. The four major ways of classifying research are as per the following: 1) Descriptive versus Analytical Research : Descriptive research deals with finding facts to establish the nature of something as it exists. In contrast analytical research deals with determining validity of hypothesis based on analysis of facts collected. 2) Applied versus Fundamental Research : Applied research is carried out to find solutions to practical problems to be solved and as help in decision making in different areas like engineering design and insurance policy making. Fundamental research is carried out as more to satisfy intellectual curiosity, than with the intention of using the research findings for any immediate practical application. 3) Qualitative versus Quantitative Research : Quantitative research studies such aspects of the research subject which are not quantifiable, and hence not subject to measurement and quantitative analysis. In contrast quantitative research make substantial use of measurements and quantitative analysis techniques. 4) Conceptual versus Empirical Research : Conceptual research is defined as analysis of thoughts and ideas and developing new ideas or interpreting the old thoughts and ideas based on logical reasoning. In contrast empirical research is based on firm verifiable data collected by either real facts under real situations or obtained through experimentation.
Q1. b. What is the significance of research in social and business sciences?
Ans. According to Hudson Maxim “All progress is born of inquiry. Doubt is often better than overconfidence, for it leads to inquiry and inquiry leads to invention”. It brings out the significance of research and increased amount of which makes progress possible. The role of research in applied economics in the context of an economy or business is greatly increasing in modern times. Research assumes significant role in formulation of economic policy by the government. It provides the basis of all government policies. Research also helps in formation of alternative policies and examining the consequences of these policies. The increasingly complex nature of business has raised the use of research in solving operational problems. Markets research is the investigation of structure and development of the market for the formulation of efficient strategy relating to purchases, production and sales. Operational research relates to application of logical, mathematical and analytical techniques to find solution of business problems like cost optimization and profit maximization. Motivational research helps to find out why a person behaves in a manner with respect to market characteristics. Also collection of data required for research is also a huge task. So government employs a huge number of people for this job which helps in reducing unemployment.
Q2. What is meant by validity? How does it differ from reliability and what are its types?
Ans. Validity is the extent to which a test measures what it claims to measure. It is vital for a test to be valid in order for the results to be accurately applied and intercepted.
Reliability refers to the consistency or stability of the test scores; validity refers to the accuracy of the inferences or interpretations you make from the test scores.
Types of validity :
Content Validity : Content validity is the estimate of how much a measure represents every single element of a construct. Criterion Validity : Criterion Validity assesses whether a test reflects a certain set of abilities. Concurrent validity measures the test against a benchmark test and high correlation indicates that the test has strong criterion validity. Predictive validity is a measure of how well a test predicts abilities. It involves testing a group of subjects for a certain construct and then comparing them with results...
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