business research methods

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Business Research Methods:

Business Research Methods Regent University of Science and Technology EMMANUEL K SENUNYEME (SEK.D) 0244- 816632.


Objectives This module is to equip students with the necessary training both to be able to assess the academic research and literature in business fields and to prepare the student to do thesis, dissertation and long essay


OBJECTIVES By the end of this course, you should be able to: Discuss the important concepts of scientific research in business; Examine the processes involved in doing research; Prepare a research proposal; Implement a research project in business; and Conduct a research project in business.


Objectives Define the meaning of research and the different types of research; Discuss the criteria of quality research; Assess the responsibilities of a researcher and the user/sponsor of the research; and Examine the needs to acquire skills to do research.


OBJECTIVES become aware of the nature and scope of research in business and management, effectively organise, structure and manage a research project. develop a research proposal for academic or organisational area. conduct literature and bibliographic search, Obtain relevant data to facilitate empirical investigation, further develop skills of inquiry,


Outline In this regard students will be aware of and be familiar with the facilities available for research such as; research in business and management, scientific thinking in research. research processes research proposal and ethics Research design strategies


Outline measurement and scale, analysis, interpretation and presentation of a research project . Data (primary secondary) collection and information retrieval survey methods procession and initial analysis of data.


Summary Knowledge and Research Research problem Characteristics of research Types of research Research proposal Elements of research proposal Sampling Techniques of sampling, among others

Teaching Format:

Teaching Format Classes will consist of a combination of: lectures, Power - point and presentations. Students will be expected to come to class having done the readings and participate in class discussions. Student teams may present cases that will be defended and discussed. Attendance and class participation are therefore expected elements of this course. There will be a compulsory coursework assignment , quiz, mid - semester exam written exam etc.

Knowledge and research:

Knowledge and research Knowledge is a collection of facts, information and/or skills acquired through experience or education or (more generally) the theoretical or practical understanding of a subject. It can be implicit (as with practical skill or expertise) or explicit (as with the theoretical understanding of a subject); and it can be more or less formal or systematic


Theory Theory is the conclusion we make through general observations. We will then verify the validity of the particular theory by using data we have collected. If the data analyzed verify the validity of the theory, then the theory becomes a law. This law will be embraced until there is a competing theory that states otherwise.


Theory A theory is a coherent set of general propositions used as principles to explain the apparent relationships of certain observed phenomena.


Research Research can be defined as the search for knowledge , or as any systematic investigation, with an open mind to; establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method


Research Research is the process of gathering the information needed to answer certain questions and thereby helping in solving problems faced by an individual, firm, organisation or society.


Research Therefore, research is something which people undertake to find out something in a systematic way, thereby increasing their knowledge. It is a primary tool used in virtually all areas of science to expand the frontiers of knowledge.

Qualitative research:

Qualitative research Qualitative research or unstructured approach to research is concerned with qualitative phenomenon involving quality. It is non-numerical, descriptive, applies reasoning and uses words. Its aim is to get the meaning, feeling and describe the situation Explaining how digestion of food takes place in our body is a qualitative description

Qualitative data:

Qualitative data Qualitative approaches to data collection are typically used at the exploratory stage of the research process

Quantitative research:

Quantitative research Seeks to quantify a data and typically apply some statistical analysis. They put heavy emphasis on using formalised standard questions and predetermined responds in questionnaires or survey administered to large number of respondents.

Quantitative research:

Quantitative research Due to large sample size and the statistical rigour quantitative research provides advantages in terms of generalisability and validity however, it is time consuming and at times very costly

Research process:

Research process It is the process of asking and answering questions which in turn assists us in acquiring new knowledge. It is often viewed as the pillar of scientific progress in any field. The research process usually starts with interest in a certain event, situation, object or just wanting to know about something.

Research problem:

Research problem A research problem refers to a difficulty which a researcher or a scientific community or an industry or a government organization or a society experiences. It calls for a thorough understanding and possible solution.


RESEARCH DESIGN It is a plan of methods and procedures that is used by the researcher to collect and analyses the data needed. It provides the plan of how the researcher will go about answering the research questions defined by manager and the researcher.

Research design cont:

Research design cont It contain the clear objectives of the research, specify the source and the type of data to be collected, the design techniques, the sampling methodology, etc. It involves two types of data collection; Primary and Secondary.

Approaches to research design :

Approaches to research design 1. Exploratory design 2. Experimental design 3. Cross-sectional design 4. Longitudinal design 5. Case study design 6. Survey design 7. Comparative design

1. Exploratory research:

1. Exploratory research Mostly use qualitative data collection techniques. Focuses on collecting either primary or secondary data using unstructured format or informal procedures to interpret the result. It incorporate the least amount of scientific methods and vigour because of aims and structure


Exploratory. Qualitative data collection technique provides A lot of rich information but at the same time it is hard to interpret and involves limitations with regards to generalization, variability and validity It includes; in- depth interviews, focus group and projective techniques.

Exploratory research:

Exploratory research In- depth interviews is a one – to – one interview with the respondent Focus group deals with a group of 6 to 12 respondent in a congenial settings Projective techniques involves various psychological testing such as pictorial construction, word association test and role play. It is used in understanding hidden association in the mind of especially customers

2. Experimental /Causal design:

2. Experimental /Causal design It provides answers to such questions by explaining which variables are the cause( independent variables) and which variables are the effect( dependent variables) It is most appropriate when the research objective includes the need to understand the reasons why certain markets phenomena happen as they do

Experimental design:

Experimental design It helps to understand which market variables ( eg,packaging change) causes what effect on other market variables (supermarket sales). To measure this however, the data must be gathered under controlled condition- that is holding constant neutralizing the effect of all variables other than the causational variable (in the case above supermarket sales)

Experimental design:

Experimental design Experimentation as a technique is generally used when conducting causal research. ; In this method, a researcher will manipulate an independent variable in order to determine whether it has an impact on a dependent variable. Some factors are controlled (set constant) and only one factor is allowed to fluctuate so that its effect on the other factors could be seen. It has very high internal validity.


Experimentation There are two types; Laboratory experiment is conducted in a contrived (not natural/unrealistic) situation. Here the researcher create a situation with the desired condition and then manipulates some while controlling other variables.

Experimental design. :

Experimental design. Field experiment is conducted in a real-life natural situation. The main distinction is the environment.

3. Descriptive:

3. Descriptive Descriptive; It is typically concern with determining the frequency with which an event occurs or the relationship between two variables. Eg consumption of mineral and age or income or occupation.

Descriptive Cont.:

Descriptive Cont. It is used to; Make prediction of market and consumer behaviour Describe a characteristics of certain groups. Etc Two main types; Cross sectional design and Longitudinal design.

4. Cross sectional.:

4. Cross sectional . It involves collection of information from any given sample population element only once. Cross sectional studies are just conducted only research to know the preference of teenagers regarding their cola brand.

5. Longitudinal design. :

5. Longitudinal design. The primary objective of longitudinal design is to monitor changes over a period of time. It involves a fixed sample of population element that is measured repeatedly. The sample remains the same over a period of time , thus providing a series of pictures which when viewed together portray a detailed illustration of the situation and changes that are taking place over a period of time.

Types. :

Types. Panel studies – a sample is interviewed at several points in time (e.g. Canada Election Study) Cohort studies – different groups are studied and compared

6. Case study research:

6. Case study research In this method, a researcher makes a detailed study of a single case. The researcher usually aims to provide in-depth understanding of the specific features of the case and its related settings. Data are collected through observation, interview and document search.

Case study research:

Case study research Researchers focus on, and study in depth, a single case A political theorist, a single individual, group, community, event, policy area, institution, etc. Why choose case studies? Can generate a wealth of data on the case Invites inter-disciplinary approaches Allows for methodological promiscuity Weakness: generalizability

Case study research:

Case study research Case studies involve in-depth, contextual analyses of matters relating to similar situations in other organizations. Case studies , as a problem solving technique, are not frequently resorted to in organizations because findings the same type of problem in another comparable setting is difficult due to the reluctance of the companies to reveal their problems.

7. Survey research:

7. Survey research A survey is a method which investigates the opinions and feelings of people. It involves interactions between the researcher and the environment. Information is collected through questionnaire or interview in many cases. Information collected in this way may not be available under any other circumstances the outcome of which has immediate application

Types of Survey :

Types of Survey two broad categories: Self-completion methods include mail and electronic surveys. Interviewer-administered methods involve direct contact with the respondents through personal interviews, including face-to-face, telephone and computer dialogue.

8. Conclusive research design:

8. Conclusive research design Mostly quantitative data collection techniques. It provides a way to verify and quantify the insights gained from exploratory research. It helps to assist managers in determining, evaluating and selecting the best course of action to take in a given situation. It is more formal and structured. The data obtained through this technique is subjected to quantitative analysis. It is classified into two; Descriptive and Causal

9. Comparative design:

9. Comparative design Method requires observing and comparing carefully selected cases on the basis of a stimulus being absent or present. Same logic as experimental design but without similar control of extraneous variables Most similar case design; most different case design Comparative analysis facilitates generalizations beyond single cases (nations, cultures) Weaknesses: Too many variables, not enough cases Concepts and variables may not travel

Comparison of research design:

Comparison of research design Exploratory Descriptive Causal Emphasis Discovering of ideas and insight Frequency of occurance Determined cause and effect Features Flexible, Unstructured Hypothesis based, Structured Variable control Techniques used Focus groups, In-depth interview, Mostly qualitative research. Survey, Observation, Panel data, Mostly quantitative research. Experimentation.


Science Science is what is known as some definable subject. It tries to describe reality truthfully. It is an institution or a system and a way of producing knowledge. Science is also a product of the system.


Science The basic goal of science is to obtain, with confidence, valid generalisations and to establish relationships between variables. By understanding the relationships, scientists will be able to understand a phenomenon in terms of the patterns of relationships, to make predictions and to determine causal relationships.

Characteristics of Scientific research;:

Characteristics of Scientific research; Controlled; set up your study in a way that minimizes the effects of other factors affecting the relationship. Rigorous ; the procedures followed to find answers to questions are relevant, appropriate and justified. Every effort is made to reduce error. Valid and verifiable; correct and can be verified by you and others.


Characteristics Empirical; conclusion drawn are based upon hard evidence gathered from information collected from real life experiences or observations. Critical; the process of investigation must be foolproof and free from drawbacks


Characteristics Systematic and logical; It must be undertaken using logical relationships and not just beliefs. It involve an explanation of the methods used to collect data, giving the reasons and meaning of the results obtained and clearly explaining any limitations that affected the results.


Characteristics Aims to find out things; suggests that the purposes of doing research may be multiple. These may include describing, explaining, understanding, criticising and analysing things. It is analytical, meaning that it follows the scientific method in breaking down and describing empirical facts;


Characteristics It is theory driven, meaning that it relies on a previous body of knowledge.

Elements of scientific research:

Elements of scientific research Observation Hypothesis formulation Testing the hypothesis Experiments Evaluation and improvement Confirmation


Summary (a) Data is collected systematically. (b) Data is interpreted systematically. (c) There is a clear purpose.

Types of research:

Types of research Research can be classified by purpose or by method. If we categorise it by purpose, it would fall into two major categories: Basic Research and Applied Research, while in case of method, it would be deductive research and inductive research

1. Applied research. :

1. Applied research . In an applied research one solves certain problems employing well known and accepted theories and principles Aim to solve specific, practical problems, for policy formulation, administration and understanding of a phenomenon. Such a research is of practical use to current activity. For example, research on social problems has immediate use

Applied research cont.:

Applied research cont. It is use of basic research or past theories, knowledge and methods for solving an existing problem. It deals with practical problems. It is opposed to pure research which is not problem-oriented but for the increase in knowledge which may or may not be used in future.

Applied Cont. :

Applied Cont. Thus, the central aim of applied research is to find a solution to a practical problem which warrants solution for immediate use It involves. There are many concerns regarding the external validity; It can either be; Experimental research, Case studies , Survey etc

2. Basic research:

2. Basic research Also called Pure or fundamental Research, it is undertaken for increase in knowledge. There is no direct benefit as it is a research for the sake of research. It is conducted to satisfy any curiosity such as: (a) what makes things happen, (b) why society changes and (c) why social relations are in a certain way. In fact, it is the source of most new theories, principles and ideas. Basic research rarely helps anyone directly. It only stimulates new ways of thinking. The main motivation is to expand man's knowledge. There is absolutely no commercial value to the discoveries resulting from such research.

Basic cont.:

Basic cont. Basic research is an investigation on basic principles and reasons for occurrence of a particular event or process or phenomenon . N ot concerned with solving any practical problems of immediate i nterest. Working on applied research, one have to make use of the outcomes of basic research and explore the utility of them.

Basic cont.:

Basic cont. Basic research. It involves action research; fact findings to improve the quality of action in the social world To sum up, basic research is purely theoretical to increase our understanding of certain phenomena or behavior but does not seek to solve any existing problem

Types of Basic research:

Types of Basic research 1. Descriptive ; which attempts to describe systematically a situation, problem, phenomenon, service or program, or provides information about , say, living condition of a community, or describes attitudes towards an issue

Basic cont.:

Basic cont. 2. Correlation research; attempts to discover or establish the existence of a relationship/ interdependence between two or more aspects of a situation. 3. Explanatory research; research attempts to clarify why and how there is a relationship between two or more aspects of a situation or phenomenon.

Basic research:

Basic research Exploratory research; is undertaken to explore an area where little is known or to investigate the possibilities of undertaking a particular research study (feasibility study / pilot study)



Why research skills:

Why research skills For; Management New staff Employees Individuals Policy makers Decision makers, etc

Objectives of research:

Objectives of research Reporting and exploring; it is done mainly to collect initial or background information. Descriptive; It helps to answer questions relating to who, what, when, where, and sometimes, how. Explanatory; It helps to answer questions relating to why and how; it goes beyond description and explains the reasons for the phenomenon (a fact) that the descriptive study only observes.


Objectives Predicting; It helps to predict when and in what situation something can happen. If the reasons for an occurrence can be explained, then it is also possible and desirable to predict when and in what situation the event will occur.

Objectives of research:

Objectives of research Testing New Products Ensuring Adequate Distribution Measuring Advertising Effectiveness to discover new facts It is the fountain of knowledge and provides guidelines for solving problems


Objectives to solve the unsolved and challenging problems to serve the society by solving social problems to verify and test important facts to analyze an event or process or phenomenon to identify the cause and effect relationship

Proposal writing:

Proposal writing Research Proposal is a document spelling out what you intend to do, why you want to do it, how you intend to do it, what you expect to get out of the research exercise, its significance and possible use. A research proposal is a document that presents a plan for a research undertaking or project to be given to reviewers for evaluation.


Importance The main purpose of a research proposal is to convince reviewers that the researcher is capable of successfully conducting the proposed research project. A well-written proposal will make reviewers more confident of the ability of the researcher and his group. The proposal will also be used to evaluate the quality and value of the proposed project.


Importance Proposal preparation clarifies that the problem investigated is the one that the researcher requested. A written proposal will become an agreement between the researcher and supervisor that can minimize any misunderstanding in the process of doing the research.


Importance Supervisor will benefit from the preparation of the research proposal because when the supervisor review the proposal, he/she will know if the researcher has really understood the problem to be investigated. The written proposal becomes the source for the supervisor to determine what they require is being fulfilled and the project is carried out as planned and agreed.

Elements of research proposal:

Elements of research proposal Selection of a research topic and problem; the starting point of a research is the selection of a research topic and problem. Identifying a suitable topic for work is one of the most difficult parts of a research. Before choosing a research topic and a problem you should keep the following points in mind;


Interest Interest; a research endeavor is usually time consuming, and involves hard work and possibly unforeseen problems. One should select topic of great interest to sustain the required motivation.

Availability of data:

Availability of data Availability of data; The researcher must determine if by doing the research, information will be available to answer basic questions about the decision. To do research, data must be available; if data cannot be made available, then research cannot be done.

Nature of the decisions:

Nature of the decisions Nature of the Decision; A routine daily tactical activity will not require spending on research, however, for a more strategically important decision, information produced from systematically conducted research may be warranted.

Benefits and costs:

Benefits and costs Benefit versus Costs; As all research requires expenditure, the benefits and costs of carrying out research projects should be compared. In any decision-making process, the manager must identify alternative courses of action, and then weigh the value of each against its cost. Business research should be thought of as an investment alternative.


Magnitude Magnitude : It is extremely important to select a topic that you can manage within the time and resources at your disposal. Narrow the topic down to something manageable, specific and clear.

Measurement of concepts.:

Measurement of concepts. Measurement of concepts. Make sure that you are clear about the indicators and concepts (if used) in your study. You must have control over your area of study.

Level of expertise:

Level of expertise Make sure that you have adequate level of expertise for the task you are proposing since you need to do the work yourself.

Relevance and Ethical issues :

Relevance and Ethical issues Relevance; Ensure that your study adds to the existing body of knowledge, bridges current gaps and is useful in policy formulation. This will help you to sustain interest in the study. Ethical issues; How ethical issues can affect the study population and how ethical problems can be overcome should be thoroughly examined at the problem formulating stage.

Time constraints:

Time constraints Time Constraints; All research conducted systematically requires time. It is not ideal, but in certain circumstances the urgency of the decision precludes the use of research

Sources of research topics:

Sources of research topics Theory of one’s own interest, Daily problems , Technological changes, Recent trends, Unexplored areas, Discussion with experts and research supervisor, Journals, Articles electronics medial etc

Research topic:

Research topic The research topic should be concise and descriptive. For example, phrases like:, "An investigation of . . ." ; “ Research on…..”; “Studies on…..” etc . could be avoided .

Research topic:

Research topic Rather the research problem should be framed as; eg The effects of parental attitudes on teenage pregnancy The demand for recreation from domestic visitors in La Palm Royal beach The role of certain traditional herbs in the cure of certain cancers. The effectiveness of improved communication systems on the productivity of airline catering workers •


Elements 2.A Brief Abstract or background description provides a concise summary of the research work you are proposing. Its purpose is to establish a framework for the research, so that readers can understand how it is related to other research.


Elements 3. Statement of Research Problems. A research problem refers to a difficulty which a researcher or a scientific community or an industry or a government organization or a society experiences Begin the research with a description of the problem or thesis statement that you want to solve.


Elements 4. Significance of the study. This section specify why your research is important and what contributions will it give to the field. State how your findings can make the difference and why it is important that the research be carried out. To students, To teachers, To future researcher


Elements 5. Literature survey and reference collection. Literature survey is a collection of research publications, books and other documents related to the defined problem Is essential preliminary task in order to acquaint yourself with the available body of knowledge in your area of interest.

Importance of literature review:

Importance of literature review Bring clarity and focus to your research problem ; Improve your methodology Broaden your knowledge base in your research area Contextualize your findings : get proper understanding of the problem chosen,


importance expose methodologies that have been adopted and which you may use or adapt . Provide sources of information that you do not have yet If a chosen area has already been researched extensively Approaches that you do not know of before Among others


Elements 6. The Research Objectives . Objectives are the goals you set out to attain in your study. Is an overall statement of the thrust of your study . The main/ General/Global Objective; It states the expected contribution of the research to the general body of knowledge in the subject area


Objective The sub-objectives / specific objectives, are the specific aspects of the topic that you want to investigate within the main framework of your study. They should state how specifically the general objectives will be achieved .


Elements 7. Hypotheses or Research Questions Questions and hypotheses are testable propositions deduced and directly derived from theory (except in grounded theory studies and similar types of qualitative inquiry ). Following the description of the conceptual framework, there should be a clear, crisp statement of the research hypotheses


Hypothesis The topic involves unanswered questions and the hypothesis predicts the possible answers.


Hypothesis In other words, the hypothesis points the right direction by indicating the specific questions that need answers. The information/answer that either agrees or disagrees with the hypothesis will bring the researcher closer to the truth, which is the thesis of the researcher.


Elements 8. Methodology; The Methodology section is very important because it documents how you plan to tackle your research problem . This section consists of; - A description of plans for collecting and analyzing the data. -What instruments will be used?


Methodology -Why are they appropriate for this study? - Is there evidence of the instruments reliability and validity? - How and to whom will they be administered? - What procedures will be followed in the data analysis?


Methodology Primary Data—Data that has close proximity to the truth and control over error, so careful designing for the collection of the data becomes pertinent; Collected for the first time and Secondary Data — Data that have been collected and processed by one researcher and reanalysed for a different purpose by another researcher; those which have already been collected and analyses by someone else.


Elements 9. Limitations It is not possible to include all aspects of a particular problem. A too wide area of investigations unpracticed and will lead to problems . Sample size, . Note that, if your sample size is too small, it will be difficult to find significant relationships from the data, as statistical tests normally require a larger sample size to ensure a representative distribution of the population and to be considered representative of groups of people to whom results will be generalized or transferred.


Limitations Measures used to collect the data; sometimes it is the case that, after completing your interpretation of the findings, you discover that the way in which you gathered data inhibited your ability to conduct a thorough analysis of the results. For example, you regret not including a specific question in a survey that, in retrospect, could have helped address a particular issue. Acknowledge the deficiency by stating a need in future research to revise the specific method for gathering data.


Limitations Self-reported data; whether you are relying on pre-existing self-reported data or you are conducting a qualitative research study and gathering the data yourself, self-reported data is limited by the fact that it rarely can be independently verified. In other words, you have to take what people say, whether in interviews, focus groups, or on questionnaries , at face value. However, self-reported data contain several potential sources of bias that should be noted as limitations:

Access and Longitudinal effects:

Access and Longitudinal effects Access; if your study depends on having access to people, organizations, or documents and, for whatever reason, access is denied or otherwise limited, the reasons for this need to be described. Longitudinal effects --unlike your supervisor, a research problem and to measure change or stability within a sample is constrained by the due date of your assignment. Be sure to choose a topic that does not require an excessive amount of time to complete the literature review, apply the methodology, and gather and interpret the results. If you're unsure, talk to your supervisor.

Lack of prior studies on the topic :

Lack of prior studies on the topic Citing prior research studies forms the basis of your literature review and helps lay a foundation for understanding the research problem you are investigating. Depending on the currency or scope of your research topic, there may not be any earlier scholarship on your topic.

Cultural and other types of bias:

Cultural and other types of bias Cultural and other type of bias --we all have biases, whether we are conscience of them or not. Bias is when a person, place, or thing is viewed or shown in a consistently inaccurate way. It is usually negative, though one can have a positive bias as well. When proof-reading your paper, be especially critical in reviewing how you have stated a problem, selected the data to be studied, what may have been omitted, the manner in which you have ordered events, people, or places and how you have chosen to represent a person, place, or thing, to name a phenomenon, or to use possible words with a positive or negative connotation.

Importance of acknowledging the limitations:

Importance of acknowledging the limitations It is far better for you to identify and acknowledge your study’s limitations than to have them pointed out by your supervisor and be graded down because you appear to have ignored them

Importance of acknowledging the limitations:

Importance of acknowledging the limitations Opportunity to make suggestions for further research. an opportunity to demonstrate to your supervisor that you have thought critically about the research problem, understood the relevant literature published about it, and correctly assessed the methods chosen for studying the problem.


Elements 10. Budget It is importance to budget for the research exercise. This would enable you to know how much you spent on the research work. It would also help you control tour expenditure.


Elements 11. Time table This helps you to know what to do at any point in time and also to finish your work on schedule.


Sampling Selection of sample to represent population Primary data Secondary data Techniques of sampling; Probability and non- probability techniques

Probability techniques:

Probability techniques Probability; Random sampling Systematic sampling Stratified sampling Cluster sampling


Sampling non- probability techniques Convenience sampling Judgmental sampling Quota sampling Snowball sampling

Ethical issues:

Ethical issues Ethics are norms or standard behaviour guiding choices or relationships with others; they may refer to the appropriateness of the behaviour in relation to the rights of those who will become the subject of the research or who may be affected by the pursuant of the research.

Ethical issue:

Ethical issue Privacy of possible and actual participants; (b) Voluntary nature of participation and the right to withdraw partially or completely from the process; (c) Consent and possible deception of participants; (d) Maintenance of the confidentiality of data provided by individuals or identifiable participants and their anonymity; (e) Reactions of participants to the way the researcher seeks to collect data; (f) Effects on participants of the way the researcher uses, analyses and reports the data; and (g) Behaviour and objectivity of the researcher.

Importance of Ethical issues:

Importance of Ethical issues To ensure that no one is injured or suffers adversely from research activities, ie those who directly or indirectly provide access and cooperation, and those who will be affected by the results of the research need to be protected

Making references:

Making references Must follow laid down conventions and one must be consistent as to approach adopted; U.K (Harvard) approach, the most fashionable. Surname, Initials, year, tittle (either underlined or in itelics ),Publishers, place of publication Ackroyd , S. and J. Hughs, (1992), Data Collection in Context, Longman, London,

Making references:

Making references Frederic S Mishking and Stanley G. Eakins,(2006), Financial Markets and Institutions, Fith edition,, Pearson Addison Wesley, USA Brealey Myers, (2003),Principles of Corporate Finance, Seventh edition, Mcgraw – Hill, Irwin

Making reverences ( Body of the essay):

Making reverences ( Body of the essay) This can go like this; According to Mereku (2002),……….. Demand for gas has risen up recently because Most of our commercial vehicles have resulted to the use of gas as they consider it to be cheaper than petrol( Mereku & Ofori , 2009;Adra, 2009)


ORGANISATION OF THE STUDY How the chapters will be organised You need not tabulate them Don’t provide the details of the subsections. in the proposal you can capture chapter one But in paper don’t include chapter one


Example The study will be presented in five chapters. Chapter one contain; Background description, statement of the problem, research questions, objectives of the study, relevance or significance of the study, Scope and limitations, and the structure of the report


Examples Chapter two will present review of relevant literature. The methodology to achieve the objectives is outlined in chapter three. Chapter four presents the results and the accompanying discussions. The conclusions and recommendations are distilled in chapter five.”

Research proposal presentation:

Research proposal presentation COVER PAGE The Institution The Title Author Object/ Level / Program Date

COVER PAGE ( example ) :

COVER PAGE ( example ) Regent University College of Science and Technology. Causes of resent shortage of LPG in Ghana By Mereku Samuel A long essay submitted to the Regent in partial fulfulment of the requirement for the award of B achelor of ………… in June 2012

Outline of the main Projects:

Outline of the main Projects Cover page Declaration Dedication Acknowledgement Abstract Table of contents Chapter one

Outline of the main Projects:

Outline of the main Projects Chapter two ; Literature Review Chapter three; Methodology Chapter four; Analyses and Discussions Chapter five; Summary Conclusion and Recommendations Refences Apendices

Hypothesis Testing:

Hypothesis Testing A Statistical hypothesis is a conjecture about a population parameter. This conjecture may or may not be true.


Types The null hypothesis , symbolized by H 0 , is a statistical hypothesis that states that there is no difference between a parameter and a specific value or that there is no difference between two parameters. H o : µ = 82 (mean will remain uncharged)


Types The alternative hypothesis , symbolized by H 1 , is a statistical hypothesis that states a specific difference between a parameter and a specific value or states that there is a difference between two parameters. H 1; µ ≠ 82. (Mean will be different).

Errors in hypothesis testing :

Errors in hypothesis testing Type 1 error (α) occurs if one rejects the H o even though it is true. e.g convicting a defender even though he/she did not commit the crime.

Errors in hypothesis testing :

Errors in hypothesis testing Type 11 error - it occurs if one does not reject H o (accept H o ) when it is false. e. g. if the defender is acquitted and he/she did commit the crime.

Errors in hypothesis testing :

Errors in hypothesis testing H 0 True H 0 False Reject H 0 Type I Error Correct Decision Do not reject H 0 Correct Decision Type 11 error

Level of significance:

Level of significance The level of significance is the maximum probability of committing a type I error. This probability is symbolized by (Greek letter alpha). That is, p( type 1 error) = α p( type 11 error) = β (Greek letter beta).

level of significance:

level of significance Typical significance levels are: 0.10, 0.05, and 0.01. For example, when  = 0.10, there is a 10% chance of rejecting a true null hypothesis.

Critical value:

Critical value The critical value(s) separates the critical region from the noncritical region. The symbol for critical value is C.V.

Critical Region:

Critical Region The critical or rejection region is the range of values of the test value that indicates that there is a significant difference and that the null hypothesis should be rejected .

Noncritical or nonrejection region:

Noncritical or nonrejection region The noncritical or non rejection region is the range of values of the test value that indicates that the difference was probably due to chance and that the null hypothesis should not be rejected.

Test value:

Test value The numerical value obtained from a statistical test is called the test value .

Types of statistical test:

Types of statistical test A one-tailed test (right or left) indicates that the null hypothesis should be rejected when the test value is in the critical region on one side of the mean.

Types of statistical test:

Types of statistical test In a two-tailed test, the null hypothesis should be rejected when the test value is in either of the two critical regions.

Steps in Hypothesis Testing:

Steps in Hypothesis Testing 1. State the hypothesis and identify the claim 2. Find the critical values 3. Compute the test value 4. Make decision to reject or accept H o 5. Summaries the result

Large Sample Mean Test:

Large Sample Mean Test The z test is a statistical test for the mean of a population. It can be used when n  30, or when the population is normally distributed and  is known. The formula for the z test is given on the next slide.

Large Sample Mean Test:

Large Sample Mean Test z = x- u . δ /√n Again, when δ is unknown and n≥ 30, we assume that s = δ (central limit theory) and use s in the formula ie z = x- u . s/√n

Large Sample Mean Test:

Large Sample Mean Test X = Sample mean u = Hypothesized population mean δ = Population standard deviation n = Sample size

Examples 1:

Examples 1 For each of the following conjecture, state H 0 and H 1 and identify the claim, a.The average age of taxi drivers in Accra is 36.3 yrs. H 0 ; u = 36.3 (claim) H 1 ; u ≠ 36.3. b.The average income of nurses is 36.25.Soln. H 0 ; u = 36.25 (claim). H 1 ; u ≠ 36.25 c.The average income of disk jockey is greater than 27.6 H 0 ; u ≤ 27.6. H 1 ; u > 27.6 (claim)

Examples 1:

Examples 1 d.The average pulse rage for female joggers is less than 72 beats per minutes. H 0 ; u ≥ 72, H 1 ; u < 72 claim. e.The average number of calories of brand A s ’ low – calories meals is at most 300. H 0 ; u ≤ 300 (claim). H 1 ; u > 300 f. The average weight loss of people who use brand A s ’ low – calories meals for 6 weeks is at least 3.6. H 0 ; u ≥ 3.6, H 1 ; u < 3.6 claim.

Examples 2:

Examples 2 Find the critical values for each of the following situation and draw the appropriate figure showing the critical region a. A left – tailed test with α = 0.01. (-2.33) b. A two – tailed test with α= 0.05. (±1.96)

Examples 2:

Examples 2 c. A right – tailed test with α = 0.05 . (1.65) d. A two – tailed test with α = 0.01 (±2.58) e. A right – tailed test with α = 0.04 1.75 f . A left – tail test with α = 0.005 Sol. -2.58 g. A left – tail test with α = 0.10 Soln -1.28

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