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The next step is to determine the sources of data to be used. The researcher has to decide whether he has to collect primary data ror depend exclusively on secondary data. Sometimes the research study is based on both secondary and primary data.
When a study is to be based on secondary data whether partly or fully it is necessary to satisfy oneself that the data are quite suitable for the objectives spelt out by the study. It is also advisable to evaluate secondary data in detail to avoid possible sources of error. It is only when such secondary data are unavailable inadequate or unreliable that a researcher should decide on collecting fresh data.
Once the decision in favour of collection of primary data is taken one has to decide the mode of collection. The two methods available are observational methods and survey methods.
What is a hypothesis test? Why do we need to use them to make decisions about relating sample results to the population; why can’t we just make our decisions by the sample value?
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Suppose the arrival times of phone calls in a help centre follow a Poisson process with rate 20 per hour (so the inter-arrival times are independent exponential random variables).
1. Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us about the distribution of the sample mean?
Your firm purchased a line of computer equipment for $1.5M four years ago. It is assigned a CCA rate of 20% and the firm has a tax rate of 35%. At the end of this year (year 4 for
Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 - 2Y. The corresponding cost functions are c1 (y1) = y 2 1 and c2 (y2) =
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Use the concepts of sampling error and z scores to explain the concept of distribution of sample means.
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