In: Economics
Discuss the estimation process of survey data in a research
Explanation:
Before discussing about data we have to know how many types of data are available. there exist two data:
Now if the data is primary then data cleaning is done to eliminate the wrong and biased informations. if it is secondary then it ensures clean data.
After cleaning, proper way of analysis is selected. if wrong technique is choosen then analusis may be ruined.
Statistical method is used for estimation. either that can be descriptive or that can be inferential. in the former mean median are calculated. but in order to estimate values for research inferencial analysis is done. in that analysis hypothesis are made and using them estimations are done.
In a research best way os estimation is regression analysis. it shows a proper, accurate and mostly unbiased result. under this relation between two or more variables are developed and then the coeffitient are analysed to examin how dependent variables AFFECT THE independent variable.