Question

Business research methododlogy

Question 1

1.1 During her analysis Julia needed to compute the following descriptive statistics:

A)Mean , b)median c)    d)Standard deviation and e) variance.

Which of these measures of central tendency and which are measure of dispersion? 40marks

1.2 She further needed to test the relationship between three variables.What is the name used to refer to this type of analyisis? 2 marks

a)Univariate analysis

b)Bivariate anaalysis

c)Multivariate analysis

d)Mixedvariate analysis

1.3 One of the reasons to explore and present variables is to show the distribution of values.Explain how this can be done

1.4 What are the two main groups used for testing statistical significance? 4 marks

1.5 What are the two sets of relationships that your data can contain? 4 marks

1.6 Durring her data analyisis ,Lisa obtained a correltion coefficient of 0.What does this mean in terms of relationship? 2 marks

Answer 1

1.1 mean and median are the measure of central tendency and standard deviation and variance are the measures of dispersion.

1.2 UNIVARIATE ANALYSIS is that form of analysis where the data that is being analyzed contains only 1 variable. examples of variables used in the univariate analysis are age, height, weight, etc.

names used to refer to this type of analysis are mean, median, mode, range, variance, quartiles, standard deviation etc.

BIVARIATE ANALYSIS is the type of analysis used to find the relationship between 2 variables. Such type of analysis is done by plotting one variable against other on a cartesian plane ie, scatterplot, fit a line or curve in the scatterplot. here one of the examples would include plotting calories against weight.

the name used to refer to this type of analysis is a simple regression model,

MULTIVARIATE ANALYSIS is the type of analysis that involves 3 or more variables. it will be plotted in a 3D graph or x-y-z plane.

names used to refer to these type of analysis are MANOVA, multiple regression analysis, partial least square regression etc.

MIXEDVARIATE ANALYSIS is the type of analysis used to test for the difference between 2 or more independent groups subject to repeated measures. the name used to refer to this type of analysis is ANOVA.

1.3 we explore and present the variables in a distribution function is because the distribution can take a countably infinite number of values and write all of them down can be difficult and not too easy to maintain. so we assign a specific variable and define the distribution and then write the values which those variables can take.

1.4 statistical significance is used to determine whether the null hypothesis given in question should be accepted or rejected.

The 2 main groups used for testing statistical significance is the p-value(probability of observing an effect more extreme given that the null hypothesis is true) and level of significance(probability of rejecting the null hypothesis given that it is true)

if the p-value is less than the significant level the null hypothesis is rejected and visa versa.

1.6 correlation coefficient is the measure of linear relationship between 2 variables(say X and Y)it is calculated by dividing the covariance of X AND Y divided by the square root of var(X) and var(Y)

given that the correlation coefficient is 0 implies the covariance between X and Y is 0 which implies that there is no linear relationship between the 2 ie, they are independent.