Podcast
Questions and Answers
A researcher is conducting a study on consumer behavior using a sample drawn from a city. To ensure representation across different income levels, they divide the city into low, medium, and high-income areas and then randomly select participants from each area. Which sampling design is being employed?
A researcher is conducting a study on consumer behavior using a sample drawn from a city. To ensure representation across different income levels, they divide the city into low, medium, and high-income areas and then randomly select participants from each area. Which sampling design is being employed?
- Stratified random sampling (correct)
- Simple random sampling
- Cluster sampling
- Convenience sampling
A company wants to understand the impact of a new advertising campaign on sales. They roll out the campaign in select cities and monitor sales changes compared to cities where the campaign wasn't launched. Which type of research design does this best represent?
A company wants to understand the impact of a new advertising campaign on sales. They roll out the campaign in select cities and monitor sales changes compared to cities where the campaign wasn't launched. Which type of research design does this best represent?
- Descriptive research design
- Experimental research design (correct)
- Exploratory research design
- Observational research design
A researcher aims to study the long-term effects of a specific educational program on students' academic performance. Data is collected from the same group of students over a period of ten years. Which type of research design is being used?
A researcher aims to study the long-term effects of a specific educational program on students' academic performance. Data is collected from the same group of students over a period of ten years. Which type of research design is being used?
- Case study design
- Longitudinal design (correct)
- Cross-sectional design
- Experimental design
A researcher is reviewing existing literature on the relationship between interest rates and inflation to develop a new model for forecasting inflation. Which objective of research is primarily being pursued?
A researcher is reviewing existing literature on the relationship between interest rates and inflation to develop a new model for forecasting inflation. Which objective of research is primarily being pursued?
A researcher is planning a survey to collect data on household income. They are concerned that respondents may underreport their actual income due to privacy concerns or social desirability bias. What type of error is the researcher concerned about?
A researcher is planning a survey to collect data on household income. They are concerned that respondents may underreport their actual income due to privacy concerns or social desirability bias. What type of error is the researcher concerned about?
Flashcards
What is Research?
What is Research?
Systematic investigation to gain new knowledge.
Objectives of Research
Objectives of Research
Describe, explain, predict, and control phenomena.
Types of Research
Types of Research
Exploratory, Descriptive, Explanatory, and Applied.
Research Design
Research Design
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Sampling Design
Sampling Design
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Study Notes
- Research seeks to understand, explain, and predict phenomena
- Research aims to systematically investigate a topic
- It discovers new facts, tests theories, and revises existing knowledge
- Research can be descriptive, exploratory, explanatory, or evaluative
- Research is important for informed decision-making and policy formulation
- It provides evidence-based insights for solving problems and improving outcomes
- Research informs policy and practice
Nature and Scope of Research
- Research plays a critical role in economic decision-making by providing evidence-based insights
- It identifies problems, evaluates alternatives, and predicts outcomes
- Research is applied in various fields, including business, economics, and public policy
Research Process
- The research process involves several steps
- Problem formulation is the first step
- Hypothesis development enables focused investigation
- A well-defined research design ensures a systematic approach
Research Design
- A good research design should be flexible, appropriate, efficient, and economical
- Different types of include exploratory, descriptive, experimental, and causal designs
- Measurement in research involves assigning numbers or symbols to characteristics of objects or events
Sampling Design
- Sampling design involves selecting a subset of a population to represent the whole
- It can be achieved through census or sample surveys
- Probability sampling involves random selection
- Non-probability sampling relies on the researcher's judgment
- A good sampling design should be representative, accurate, and cost-effective
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Description
Research systematically investigates topics to discover new facts, test theories, and revise knowledge. It plays a critical role in economic decision-making by providing evidence-based insights. The research process involves problem formulation, hypothesis development, and a well-defined design.
