Question

Our group project is on if the coronavirus caused a recession. our y variable is the recession and the x variables are : covid-19, unemployment, supply chain, healthcare coverage, travel restrictions and the gdp (gross domestic product) Write up a few sentences describing how you will answer your research question. Do you plan to make a survey to collect data or use already existing data? After completing your study go back to this section and write up in greater detail what you ended up doing. Explain Your Sample - What is the target population of your research? How did you collect sample? Discuss whether the target population is well represented by your sample. Discuss any possible source of errors or problems in your sampling

Answer 1

Plan to do survey by using already existing data:- 1) Unemployment :- amoung common labour market indicators, the first sign of massive job loses came with the initial unemployment insurance claims report for the weak ending on March 21.More than 3.3 million workers filed for unemployment insurance that weak, and unprecedented number even during the recession. The surge in initial claims for unemployment insurance continued, and within 5weeks, toatal initial claimed had reached the 26 million mark. While the great deal of uncertainty surrounds how many of these workers will return to their previous job or which companies will remain in business when social distancing measures are eased, it is important to obtain our best estimates for how much the unemployment rate will increase and how persistent the increase will. Unemployment rate will likely pick below 20% and will come down rather swiftly over the last two quarters of this year.

2) Impacts on global supply chain:- nearly 75% of companies report supply chain disruption in some capacity due to corona virus related trasportation restrictions, according to newly released results of a survey focused on corona virus disease 2019 business and supply chain impacts primary reported supply chain includes 1) 57% noted longer lead times for tier 1 china -sourced component, with average lead time more than doubling compare to the end of 2019. 2) of the companies expecting supply chain impacts, the severity anticipated increases after the first quarter of 2020. 3) 6 in 10 respondents are experiencing delays in receiving orders from china.

3) Healthcare coverage:- Before the oubreak of corona virus pandemic in India only 10% of people were intrested in buying health insurance to cover new age diseases, but now 71% people consider health insurance as a necessity to fight un foreseen pandemic like this the survey said. The survey with a sample size of 1400 respondents from 11 major markets includding dehli, mumbai, banglore, chennai, hydrabad, kolkata, luchnow, pune, patna, jaipur and chandigarh was done in February as a pre covid reference point and in may as post covid responses. There has been a remarjable sheet in the mindset of people before and after covid -19 as earlier only 10% people were intrested in purchasing, as per the survey done by the private sector health insurance.

4) Travel restrictions:- According to a survey amoung indians in March 2020 above 34% thought incoming travel should be limited for the month following the survey period. This included the opinion that travelers into India should only be allowed if they had a corona vrirus free certificate from the country of departure all boardind ports. With the outbreak of covid19 countries across the world have implimented entry restrictions, quarantine measures and travel advisories to help contain the virus as of March 13 2020 the Indian government suspended existing visas with exceptions until April 15 2020.

5) GDP:- Rbi survey predicted that gross domestic product during the current financil year is likely to contract by 1.5% , though the next fiscal is expected to be much better. India's GDP estimated we're downgraded even more to negative figures signaling a deep recession. Government revenue has been severly affected with tax collection going down and as a result the government has been trying to find ways of reducing its own cost.

In survey we conducted this questions answers by using the same data.In the world of stastics there is equally a focus on timely information on the spread and impact of the virus. This relates to the stastics on the number of cases and outcome of those cases hence it is huge challenge of tracking and discribing all these changes for official statistic across the world the restrictions necessary to combat covid 19 are creating a huge obstacle to normal data collection approaches and operations exactly at the moment when there is massive increase in demand for information the situation is rapily evolving making normal planning impossible.