Research methodology 2013


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Research methodology 2013

  1. 1. RESEARCH METHODOLOGY  Module-1 Nature and scope of Research Methodology ; Problem formulation and Statement  of Research Objectives ; Values and Cost of Information   Module -11 Bayesian Decision theory; Organization Structure of Research ; Research Process –  Research Designs – exploratory , Descriptive and Experimental research designs    Module -111 Methods  of  Data  Collection  –  Observation  and  Survey  methods;  Questionnaire  design   Module -1V Attitude  Measurement    techniques  –  Motivational  Research  Techniques  ;  Administration  of  Surveys  ;  Sample  design  ;  Selecting  appropriate  Statistical  Techniques ; Field work and Tabulation of data   Module -V Analysis of data – Use of SPSS and other Statistical software packages ; Advanced  techniques for data analysis – ANOVA, Discriminant Analysis, Factor Analysis,  Multi dimensional Scaling and Clustering Methods ; Research applications  1
  3. 3. RESEARCH(definition) Research is the systematic process of collecting  and analysing information (data) in order to  increase our understanding about which we are  concerned or interested. e.g:  understanding market trend Effectiveness of advertising HR policies Finding the best investment options 3
  4. 4. Aim or objectives or purpose of research 1. To find out the truth – exploratory or  formulative  research 2. To portray the accuracy of the  Characteristic  of a phenomenon (descriptive research) 3.  to determine the frequency of occurrence of  something (diagnostic ) 4. To find out the casual relationship b/w  variables( hypothesis testing) 4
  5. 5. Motivation for research 1. Research degree 2. Honour from society 3. Joy of  doing creative work 4. Service to society 5. Solving unsolved problem 6. Casual relationship b/w variables 7. Curiosity about new things 8. Directions of govt. 9. Employment conditions 5
  6. 6. . Research approaches Quantitative approaches        qualitative approaches 1. Inferential 2. Experimental 3. simulation             6
  7. 7. Quantitative Research It is based on measurable quantities Sample is studied and inference is made about  population characteristics 7
  8. 8. Qualitative Research It is concerned with measurement of attitudes  opinions and behaviour . It is important in behavioural science where the  aim is to discover the underlying motives of  human behaviour. 8
  9. 9. . 1. Subjective study 2. Objective study 3. Intra- subjectivity 4. Inter subjectivity 5. Inductive reasoning 6.  Deductive  reasoning 9
  10. 10. . Inductive and deductive reasoning Inductive reasoning: moves from specific  observation to border generalisations Deductive reasoning: more general to more  specific 10
  11. 11. .TYPES OF RESEARCH 1 Descriptive research 15 Exploratory research 2 Analytical research 16 Formalised   research 3 Applied research 17 Historical  research 4 Fundamental(pure) research 18 One time  research 5 Qualitative research 19 Longitudinal  research 6 Quantitative research 20 Action  research 7 Conceptual research 21 Evaluation  research 8 Empirical research 22 Library  research 9 Ex-post facto research 23 Policy  research 10 Empirical or laboratory research 24 Conclusion oriented  research 11 Field research 25 Decision oriented research 12 Simulation research 26 Operations research 13 Diagnostic research 27 Survey research 14 Clinical research 11
  12. 12. TYPES OF RESEARCH 1 Descriptive research: Descriptive research is the description of the state  of affairs as it exist at present. Research has no control over the variables, he can  only report what has happed or what is  happening. Survey method is used. e.g: frequency of shopping ,preference of people Descriptive research in social science and business  is called Ex post facto research 12
  13. 13. TYPES OF RESEARCH 2 Analytical research The research information is already available and  the researcher analyse these to make critical  evaluation of the market. 13
  14. 14. TYPES OF RESEARCH 3 Applied research It is concerned with solution of particular problem.  It is concerned with applied aspects of life. 14
  15. 15. TYPES OF RESEARCH 4 Fundamental(pure) research It is concerned with generalisation and formulation  of a theory Fundamental research provides the basis upon  which the whole structure of applied research is  built. e.g: Research in pure mathematics Research concerning human behavior carried on  with a view to generalisation about human  behaviour 15
  16. 16. TYPES OF RESEARCH 5 Qualitative research It is concerned with measurement of attitudes  opinions and behaviour. 16
  17. 17. TYPES OF RESEARCH 6 Quantitative research It is based on measurable quantities Sample is studied and inference is made about  population characteristics 17
  18. 18. TYPES OF RESEARCH 7 Conceptual research Conceptual research is related to some abstract  ideas or theory. It is used by philosophers and  thinkers to develop new concepts or to interpret  existing ones. 18
  19. 19. TYPES OF RESEARCH 8 Empirical research It is data based research coming up with  conclusions capable of being verified by  observation or experiments. It starts with hypothesis . It may lead to induction or deduction. On the basis  of this the researcher may be able to arrive at  generalisations, develop new theories and  principles. 19
  20. 20. TYPES OF RESEARCH 9 Ex-post facto research This is descriptive as well as empirical research in  social science and business. Under this the  researcher establishes relationship between  dependent and independent variables.  20
  21. 21. TYPES OF RESEARCH 10 Experimental or laboratory research It is concerned with research experiments  conducted in laboratory. e.g: research in physical science 21
  22. 22. TYPES OF RESEARCH 11 Field research Experiment conducted in real life situation in field is  called field research. The  result so obtained are  more realistic. 22
  23. 23. TYPES OF RESEARCH 12 Simulation research Simulation is imitation of reality. Under this an  artificial environment is constructed within which  relevant information and data can be generated. 23
  24. 24. TYPES OF RESEARCH 13 Diagnostic research It is done to find the cause of problem and the  possible solution for it. It is similar to descriptive  research. 24
  25. 25. TYPES OF RESEARCH 14 Clinical research It is done in clinic 25
  26. 26. TYPES OF RESEARCH 15 Exploratory research It is conducted without hypothesis. The objective of  exploratory research is development of a  hypothesis rather than its testing. 26
  27. 27. TYPES OF RESEARCH 16 Formalised research It involves formal structure and testing of  hypothesis. 27
  28. 28. TYPES OF RESEARCH 17 Historical research It uses historical data to understand  present and to  anticipate future. 18. One time research It is confined to a single period 19.Longitudinal research It is carried on over several time periods. 28
  29. 29. TYPES OF RESEARCH 20.ACTION RESEARCH It is conducted through action. It is done to achieve  the purpose more effectively. e.g:a teacher may conduct action research  to  improve his own teaching. 21.Evaluation research It is done for measuring operational efficiency .It  evaluates a project already undertaken. e.g: job evaluation, performance evaluation  programme evaluation. 29
  30. 30. TYPES OF RESEARCH 22.Library research This research is based on materials available in the  library. 23. 30
  31. 31. Research method Vs research methodology Research method: all those methods and  techniques used for conducting research Research  methodology: it is a science  31
  32. 32. Research  Process Research process consists of a series of actions or  steps necessary to effectively carry out research Research process can be divided into three steps 1.Planning 2.Execution 3.Report preparation 32
  33. 33. Research  Process 1. Formulation of the research problem 2. Extensive literature survey 3. Development of working hypotheses         PLANNING 4. Preparation of the research design 5. Determining sample design 6. Collection of data 7. Execution of the project 8. Analysis of data                                               EXECUTION 9. Hypothesis testing 10. Generalizations and interpretations 11. Preparation of research report               REPORT WRITING 33
  34. 34. Formulation of the research problem 1. Problem identification –       (basic understanding of the research problem) 1. Problem definition –        (rephrasing the research problem into  meaningful terms) 34
  35. 35. What is a research problem A research problem is one which requires a  researcher to find out the best solution for the  given problem i.e. to find out by which course action the objectives  can be attained optimally in the context of a given  environment. A research problem exist if different course of  action cannot provide the same outcome.  35
  36. 36. .Problems can be classified into: 1.Conceptual problems 2.Empirical problem 3.Logical problems 36
  37. 37. Source of identification / location of business problem How does research problem arises ? 1. Contemporary interest 2. Own interest 3. Gaps in the field 4. Review of business reports and office record of  organizations 5. Observation of business conditions 6. Discussion with the competent office execution 7. Careful examination of the office records of the  successful units 8. Critical examination of the published records 37
  38. 38. Problem definition It means state the problem along with the bounds  within which it is to be studied.  Questions like the following will help the  researcher to define the problem properly What data are to be collected ? What characteristics of the data are relevant and needs to be studied? What relation are to be explored? What techniques are to be used for the purpose? 38
  39. 39. Techniques involved in defining a problem Steps for defining a research problem Formulating a research problem 1. Statement of the problem in a general way 2. Understanding the nature of the problem 3. Surveying the available literature 4. Developing the ideas through discussions 5. Rephrasing the research problem In addition to that 1. Technical terms or phrases with special meaning  should be defined 39
  40. 40. Techniques involved in defining a problem / Steps for defining a research problem / Formulating a research problem 2. Basic assumptions or postulates  3. Time period and source of data 4. Scope of investigation or limits within which the  problem is to be studied 40
  41. 41. . “Why is productivity in Japan so much higher than in India” What sort of productivity ? With what industries ? With what period of time ? What factors are responsible for higher productivity ? It can be rephrased as “To what extent did labor productivity in 1971 to 1980 in Japan exceed that of India in respect of 15 selected manufacturing industries” 41
  42. 42. RESEARCH DESIGN Plan of action is known as research design Design means adopting that type of techniques of  research which is  suitable for the research. 42
  43. 43. Phases / parts of research design 1.Sampling design 2.Observational design 3.Statistical design 4.Operational design 43
  44. 44. Phases / parts of research design 1.Sampling design It involves methods of collection of sample. 2.Observational design It relates to the conditions under which the  observations can be made 3.Statistical design How the data are to be collected and how the  data are to be analysed.  4.Operational design Operational part of the research i.e procedures  specified. 44
  45. 45. R.D should contain 1. Clear statement of the research problem 2. Procedures and techniques to be used for  gathering information 3. Population to be studied 4. Methods to be used for processing  and data  analysis. 45
  46. 46. Important concepts relating to R.D 1. Dependent and independent variable 2. Extraneous variable 3. Confounded relationship 4. Research hypothesis 5. Experimental and control group 6. Treatments 7. Experiments 8. Experimental units 46
  47. 47. Important concepts relating to R.D 1. Dependent and independent variable If a variable depends upon or in a consequence of  the other variable is called dependent variable. The variable which is preceding to the dependent  variable is termed as an independent variable. 2.Extraneous variable Independent variables that are not related to the  purpose of study , but may affect the  dependent variable are called extraneous  variables. 47
  48. 48. Important concepts relating to R.D 3.Confounded relationship When the dependent variable is not free from the  influence of the  extraneous variable(s) , the  relationship b/w d.v and i.v is said to be  confounded by extraneous variable(s)  4.Research hypothesis When an assumption/ hypothesis is to be tested  by scientific methods it is termed as research  hypothesis. 48
  49. 49. Hypothesis testing research Experimental hypothesis design      non- experimental hypothesis design  (i.v is manipulated )                                          (i.v is not manipulated)                         50 students Group A  -25                                     Group B-25 Casual study  programme         special study orogramme Control group experimental group (usual condition)                      (special condition) Treatment                                                treatment Casual study and special study are two treatments The different conditions under which experimental and control group are put are  called treatments. Plots and blocks where different treatments are used are known as experimental units 49
  50. 50. Hypothesis testing research Experimental hypothesis design      non- experimental hypothesis design  (i.v is manipulated )                                          (i.v is not manipulated)                                       To find out whether intelligence  affects reading ability. Researcher  randomly selects 50  students and  test their intelligence and reading  ability by calculating the  coefficient of correlation b/w the  two set of scores. 50
  51. 51. . Experiments: The process of examining the truth of  a hypothesis is called experiment                             Experiments Absolute experiment          comparative experiment Eg: if we want to test the impact of a drug if we want compare the impact of two drugs 51
  52. 52. Types of R.D 1. Exploratory or formulative R.D 2. Descriptive and diagonastic R.D 3. Experimental(Hypothesis testing) R.D 52
  53. 53. Exploratory or formulative R.D -Not acquainted with the problem -not familiarizing with -aim is to form hypothesis -design is flexible -highly unstructured -ends with a  hypothesis Methods: -survey of literature -experience survey -case study method: investigator investigates one or more  situations similar to the researcher’s problem situation 53
  54. 54. Descriptive and diagonastic R.D -there is similarity in the design of these methods -can define the problem -less bias and maximum reliability -can define population, sample, methods of  collection of data, sample design everything can  be determined -data can be collected by structured questionnaire --probability and non probability sampling  - Data can be collected by observation, interview,  questionnaire-method depends upon  requirement 54
  55. 55. Descriptive Vs diagonastic R.D S.I Descriptive diagonastic 1 Characteristic of a group or  individual Cause factor 2 May not be motivated by  hypothesis Motivated by  hypothesis 3 Objective is to acquire  knowledge Finding a solution to the  problem 4 No attempt is made to  factors contributing to the  problem Factors contributing to  the problem 55
  56. 56. Experimental(Hypothesis testing) R.D An experimental research is a hypothesis testing  research in which the researcher tests the  hypothesis of casual relationship b/w  varables.R.A Fisher is considered as the father of  experimental research. 56
  57. 57. Basic principles of experimental research 1. Principle of replication 2. Principle of randomization 3. Principle of local control 57
  58. 58. Principle of replication Experimental units X two varieties of paddy Y - To increase the precision of the study XY XY XY XY XY XY XY XY XY XY XY XY 58
  59. 59. Principle of randomization - To reduce the effect of extraneous variable( soil fertility) -one variety of paddy is allowed to grow in different parts of the field in a random way. X Y Y X X Y Y X X X Y Y 59
  60. 60. Principle of local control - Eliminate the variability due to extraneous factor - each block is divided into parts equal to number of treatments - Let we are using 3 types of fertilizers (treatments) - Blocks are the levels at which we hold an extraneous factor fixed. 60
  61. 61. Experimental R.D INTERNAL 1. After only design 2. After only with control group 3. Before & after without control group 4. Before & after with control group 5. Ex- post after Design EXTERNAL 1. Completely randomized design 2. Randomized block design 3. Latin square design 4. Factorial design 61
  62. 62. Internal Experimental R.D 1. After only design: Impact on dependent variable is measured only after treatment is given. e.g.: Impact on sales on advertisement - It is feasible only for new products where there is no previous results 62
  63. 63. Internal Experimental R.D 2.After only with control group Then the result is compared Experimental group Treatment is given Control group No treatment is given 63
  64. 64. Internal Experimental R.D 3.Before & after without control group - Dependent variable is measured before and after the introduction of treatment 64
  65. 65. Internal Experimental R.D 4.Before & after with control group Dependent variable is measured before and after the treatment - This eliminates the effect of extraneous variable Experimental group Treatment is given Control group No treatment is given 65
  66. 66. Internal Experimental R.D 5.Ex- post after Design This is done to study why some incidents/ revolutions takes place in some countries/ not taking place in other countries. 66
  67. 67. External Experimental R.D 1. Completely randomized design It is based on two principles, principle of replication and principle of randomization. CRD Two group randomized design random replication Population Population Sample Sample Control group experimental group No treatment Treatment is given This treatment is repeated , it is technically called replication 67
  68. 68. 68
  69. 69. 1. Completely randomized design It is based on two principles, principle of replication and principle of randomization. CRD Two group randomized design random replication Population Population Sample Sample Control group experimental group No treatment Treatment is given This treatment is repeated , it is technically called replication 69
  70. 70. External Experimental R.D 2.Randomized block design - It is a refinement of the CRD. Principle of local control is also applied here with other two principles. - The blocks are again divided into parts equal to the number of treatments. 70
  71. 71. External Experimental R.D 3.Latin square design - It is used in agricultural research - Treatment in this design is so allocated among the plots that no treatment occurs more than once in any row or column. - An experiment is made to know the effect of different varieties of fertilizers on yield of crop 71
  72. 72. External Experimental R.D 4.Factorial design - It is for determining the efficiency of two or factors Factorial design Simple Complex (Effects of two factors are measured) (Effects of more than two factors are measured ) 72
  73. 73. Exploratory R.D -Exploratory R.D is used when the researcher is NOT acquainted with the problem. - It is done for familiarizing with a new phenomenon - In exploratory research a specific problem is formulated for precise investigation i.e. a hypothesis is formed from an operational investigation. Hence it is known as formulative studies. - It is highly unstructured flexible enough to permit the consideration of many different aspects of a phenomenon. - Exploratory research ends with a hypothesis, while other research designs begin with specific hypothesis which we aim to test. 73
  74. 74. Exploratory R.D Methods of exploratory R.D 1. Survey of literature 2. Experience survey 3. Analysis of insight simulating experience 74
  75. 75. Exploratory R.D Methods of exploratory R.D 1. Survey of literature -to see what has been done to the subject of studies, how it is done, what conclusions were arrived at. - Researcher can develop hypothesis from already formulated hypothesis in similar studies. - He can define the problem from theories and concepts of similar studies 75
  76. 76. Exploratory R.D Methods of exploratory R.D 2.Experience survey - It means survey of people who have practical experience with the problem. - Gathering views and opinions by the way of experience survey helps the researcher to define the problem more precisely 76
  77. 77. Exploratory R.D Methods of exploratory R.D 3.Analysis of insight simulating experience (case study method) - This method is used where there is no person to provide necessary information for development of insights and hypothesis for specific research. - Under this unstructured interview may be conducted to collect the information. 77
  78. 78. R.D for Descriptive and Diagnostic study Descriptive research is the description of the state of affairs as it exists at present. It includes surveys and fact finding enquiries. In this type of research the researcher has no control over the variables, he can only report what has happened or what is happening .Methods used are survey methods of all kinds, comparative and correlational methods e.g: frequency of shopping, performance of people etc Diagnostic research is done to find the cause of a problem and the possible solution for it. It is similar to descriptive research 78
  79. 79. R.D for Descriptive and Diagnostic study Descriptive Vs Diagnostic Characteristic of a group or individual Cause factor May not be motivated by hypothesis Motivated by hypothesis Objective is to acquire knowledge Objective is to find a solution for the problem No attempt is made to find the factors contributing the problem An attempt is made to find the factors contributing to the problem 79
  80. 80. R.D for Descriptive and Diagnostic study There are certain similarities b/w descriptive and diagnostic R.D - Research design must make enough provision for protection against bias and maximum reliability. - Research design must be rigid not flexible. - Objective should be set with maximum precision to ensure that the data collected are relevant. - Designing the method of data collection (structured instruments should be used) 80
  81. 81. R.D for Descriptive and Diagnostic study There are certain similarities b/w descriptive and diagnostic R.D - Selecting the sample (how much material will be used- sample should be selected in such way that it may yield accurate information with minimum effort) - Collection of the data(where can the required data be found and with what time period should the data be related) - Processing and analysing the data - Reporting and finding 81
  82. 82. Sampling design Universe or population Types : 1. finite: population in the city 2. infinite :stars in the sky Sample census 82
  83. 83. Sampling design Universe or population Types : finite, infinite Sample Sampling technique- process of selecting the sample Sample design - it is the plan for selection of sample - techniques and procedures - prepared before the data are collected Sampling unit –geographical- state, district, village - construction unit- house ,flat - individual census 83
  84. 84. Sampling design Sampling frame( source list)- source from which sample is drawn Size of sample – not too large or small, optimum - representative, reliability - parameters to be estimated has strong bearing on sample size Budgetary constraint - less for non-probability sampling - more for probability sampling 84
  85. 85. Sampling design Systematic bias (non-sampling errors, systematic errors) is the result of one or more of the following. - 85 1 Inappropriate sampling frame - (source) 2 Defective measuring device - questionnaire or interview based 3 Indeterminacy principle - people act differently in different situations. 4 Natural bias in reporting of data - People understate their income if asked about tax purpose, but they overstate the same if asked for social status. This happens in the case of psychological survey
  86. 86. Sampling Techniques Probability sampling (Random sampling) For finite population -with replacement -without replacement Infinite population -lottery method - Random number table method Non-Probability sampling (Non-Random sampling) 1. Deliberative or Purposive or Judgment sampling 2. Convenience sampling 3. Quota sampling 4. Snowball sampling Mixed/Complex 1.Systematic 2.Stratified 3.Cluster 4.Area 5.Multistage 6.Multiphase 7.sequential 86
  87. 87. Sampling design Probability sampling (Random sampling) -each element in the population has equal chance of selecting into it -it obeys the rule of statistical regularity -sampling errors can be estimated -there is no sampling error in the case of census 87
  88. 88. Sampling design Probability sampling (Random sampling) For finite population: selection – with replacement ( no change in sample space i.e. selected item is placed back. - without replacement (sample size reduces) For infinite population: 88 Lottery method Sample may be selected Random number table
  89. 89. Sampling design Probability sampling (Random sampling) For infinite population: Lottery method Universe are numbered or named on separate slips of paper having identical size, shape and colour. Slips are then folded and mixed up in a container .A blind fold selection is made. The number of slips required constitute the desired sample size. 89
  90. 90. Sampling design Probability sampling (Random sampling) For infinite population: Random number table method -Each member of the population is given a number -random numbers are read out -the item whose number is identical with the random number is selected. - This is continued till the desired number is obtained. 90
  91. 91. Sampling design Probability sampling (Random sampling) Probability sampling -no personal bias - statistical regularity - sampling error can be estimated - - when sample size n is small result may not be reliable - - it cannot be applied if universe is not homogeneous. 91
  92. 92. Non-Probability sampling (Non-Random sampling 1. Deliberative or Purposive or Judgment sampling: Investigator exercise his discretion He deliberately picks up the sample Judgment of the researcher 2. Convenience sampling Researcher selects a sample convenient to him 92
  93. 93. Non-Probability sampling (Non-Random sampling 3. Quota sampling When the convenience sampling is biased and unsatisfactory especially in case of gathering public opinion, a definite number of samples (quota) are selected from different strata. 4. Snowball sampling Under this the selection of the additional respondent is on the basis of the referrals of initial respondent 93
  94. 94. Non-Probability sampling (Non-Random sampling Mixed/Complex It is a combination of probability and non-probability sampling procedures. 1. Systematic sampling -every ith item is selected -b/w any two interval selected there is an interval k -if 4% sample is required every (100/4) 25th item is selected -if there is a hidden periodicity systematic sampling is not efficient(i.e if the 25th item produced is defective) -if the population is homogeneous and in random order, systematic sampling is considered equivalent to random sampling. 94
  95. 95. Non-Probability sampling (Non-Random sampling 2. Stratified sampling A homogeneous subset of the population which is more homogeneous than the parent population is called strata. We select items from each strata by simple random sampling method or systematic sampling method. Strata is formed on the basis of common characteristics or homogeneity. It is formed by past experience or personal judgment. 95
  96. 96. Non-Probability sampling (Non-Random sampling 3. Cluster sampling If the population is big one ,the population area is divided into a number of smaller non-overlapping areas and then select a number of these small areas.(called clusters) e.g.: schools, colleges ,factories etc Tribal survey can be done in this way It is less precise than random 96
  97. 97. Non-Probability sampling (Non-Random sampling 4. Area sampling Area sampling is cluster sampling. If clusters are happen to be some geographic subdivisions, in that case cluster sampling is better known as area sampling. 97
  98. 98. Non-Probability sampling (Non-Random sampling 5. Multistage sampling Multistage sampling is a further refinement and development of cluster sampling. Under this the sampling procedure is carried out in several stages It is used in big enquiries which cover large geographical areas i.e. respondents are scattered all over. Suppose a researcher wants to study the performance of nationalised banks in India. The researcher can go for 1- stage,2-stage,or multistage sampling 98
  99. 99. Non-Probability sampling (Non-Random sampling Suppose a researcher wants to study the performance of nationalised banks in India. The researcher can go foe 1- stage,2-stage,or multistage sampling If samples are selected from each state then it is 1- stage sampling. If samples are selected from chosen districts it is a 2- stage sampling. If samples are selected from certain towns of selected districts then it is 3- stage sampling 99
  100. 100. Non-Probability sampling (Non-Random sampling 5. Multiphase sampling In multiphase sampling nth phase sampling units are selected on the basis of the result obtained from (n-1)th phase sampling. This is done when we want to measure more than one characteristic of the population. 100
  101. 101. Non-Probability sampling (Non-Random sampling 6. Sequential sampling Under this we can go on taking samples one after another as long as one desires so. Sample size is determined on the basis of the result obtained. 101
  102. 102. Methods of data collection Primary data 1.Observation method 2.Interview method 3.Questionnaire method 4.Schedule method Other methods 1.Warranty cards 2.Distributor or store audit 3.Pantry audit 4.Consumer panels 5.Mechanical devises 6.Projective techniques 7.Depth interview 8.Content analysis 9.Case study method Secondary data 102
  103. 103. Methods of data collection Primary data: primary data are those which collected afresh and for the first time, and thus happens to be original in character. i.e. originally collected data 103
  104. 104. Methods of data collection Secondary data: those which have been already collected by someone else and which have already been passed through the statistical process. The nature of data collection work is merely that of compilation 104
  105. 105. Methods of data collection 1.OBSERVATION METHOD: Observation means watching things with purpose. Observation method of data collection becomes a scientific tool when it serves a formulated research purpose. Observation has three components viz sensation, attention and perception. Sensation is derived from sense organs. Attention is related to the ability to concentrate on the subject matter of study Perception enables the mind to recognize the facts 105
  106. 106. Methods of data collection Kinds of observations 1. Controlled and uncontrolled observation 2. Structured and unstructured observation 3. Participant and non-participant observation 4. Direct and indirect observation 5. Disguised observation 106
  107. 107. Methods of data collection Kinds of observations 1. Controlled and uncontrolled observation Controlled observation When observation takes place according to definite , pre- arranged plans involving experimental procedure, it is known as controlled observation. In controlled observation observer exercise control over the phenomenon. The controlled observation limits the bias of the individual observer. This type of observation is found useful in the field of psychology and sociology. 107
  108. 108. Methods of data collection Kinds of observations 1. Controlled and uncontrolled observation uncontrolled observation If the observation takes place in natural setting, it may be termed as uncontrolled observation. No mechanical aid is used here. Here the observer has no control over the phenomenon. Under this the investigator becomes a part of the group upon which he is studying. So the members of the group regard him as the participant and do no consider him as an observer. The prejudices and bias of the observer may affect he observation. 108
  109. 109. Methods of data collection Kinds of observations 2. Structured and unstructured observation Structured observation: Here the observation is carried according to a plan. The situation is to be observed is clear, problem under investigation is clear, sample and population to be studied are well defined. Questionnaires and schedules are also used under this method. High degree of accuracy is achieved. 109
  110. 110. Methods of data collection Kinds of observations 2. Structured and unstructured observation unstructured observation The above mentioned conditions under structured observation is not prefixed here. It is used in exploratory research. The bias of the observer may influence the observation. 110
  111. 111. Methods of data collection Kinds of observations 3.Participant and non-participant observation Participant observation: under this the role of the participant is same as that of the role of the observer in uncontrolled observation. non-participant observation: Under this the observer is present in the group, but does not participate in their activities. 111
  112. 112. Methods of data collection Kinds of observations 4.Direct and indirect observation Direct observation: Under this the observation is made with the physical presence of the observer. indirect observation: it is made without the physical presence of the observer. It is done by recording the events. 112
  113. 113. Methods of data collection Kinds of observations 5. Disguised observation The researcher’s presence is unknown to the people he is observing. 113
  114. 114. Methods of data collection II. Interview method: Interview method is a direct method of collecting data. It is a verbal method of collecting data. 114
  115. 115. Methods of data collection II. Interview method: Telephone Types of interview on the basis of Object ives Functions and methodology Number of respondents Form or nature 1. Clinical 2. Selection 3. Diagnostic 4. research 1. Non- directed 2. Focused 3. Repeated 4. depth 1. Group 2. individual 1. Structured 2. unstructured 115
  116. 116. Methods of data collection II. Interview method: 1. Clinical: It is an attempt made to identify the cause of certain abnormalities. After identifying the cause remedial measures are sought. It is mainly done in psychiatric clinics and prison administration. 116
  117. 117. Methods of data collection II. Interview method: 2. Selection This is done with the object of selecting a person on the basis of certain traits and qualities. 3.Diagnostic: Objective is to find out the cause of some social events or problem 117
  118. 118. Methods of data collection II. Interview method: 3.Diagnostic: Objective is to find out the cause of some social events or problem 118
  119. 119. Methods of data collection II. Interview method: 4.Research : Objective is to find out the information pertaining to a specific problem 119
  120. 120. Methods of data collection II. Interview method: 5.Non- directed: This is an uncontrolled interview in which no plan is drawn about the question to be asked 120
  121. 121. Methods of data collection II. Interview method: 6.Focused: This is a controlled interview. Here the question to be asked are pre- planned or pre- determined. It is used for social and psychological retains and attitudes. 121
  122. 122. Methods of data collection II. Interview method: 7.Repeated: Such interviews are conducted at regular intervals. It is done to study those dynamic functions and attitudes that influence, guide and determine the behavior of certain individuals. 122
  123. 123. Methods of data collection II. Interview method: 8.Depth: This is a lengthy interview conducted to discover underlying motives attitudes, feelings, emotions, etc of respondents. 123
  124. 124. Methods of data collection II. Interview method: 9.Group: When interviews are conducted on a group of respondents it is called group interview. Here information is collected by ascertaining the views of a group of persons 124
  125. 125. Methods of data collection II. Interview method: 10.Individual: When interview is conducted on a single respondent it is called individual interview. Here information is collected by single interview 125
  126. 126. Methods of data collection II. Interview method: 11.Structured: Questions are asked from a structured questionnaire. It is highly standardized in form and content. Interviewer has no freedom to ask extra questions. Questions and their order are pre- fixed. 1. Unstructured: 126
  127. 127. Methods of data collection II. Interview method: 12.Unstructured: Questions are not pre- planned, structured or ordered 13.TELEPHONE INTERVIEW Conducted over telephone. It is cheap, faster than other methods; it fails if the questions are long. 127
  128. 128. Methods of data collection II. Interview method: 12.Unstructured: Questions are not pre- planned, structured or ordered 13.TELEPHONE INTERVIEW Conducted over telephone. It is cheap, faster than other methods; it fails if the questions are long. QUESTIONNAIRE Questionnaire is prepared and sent to respondents by post SCHEDULE It is similar to questionnaire method, but it is filled by field staff or researcher 128
  129. 129. Methods of data collection 1. Warranty cards It is postal cards used by dealers of consumer durables, to collect information regarding their products. 129
  130. 130. Methods of data collection 2.Distributor/ store audits Salesman at the time of distribution of items observe the opinion of the customers. These information is gathered by the salesmen are used to estimate market size, market share, seasonal purchasing pattern etc .In this method there is no interview or questioning, but there is only observation. 130
  131. 131. Methods of data collection 3. Pantry audit The objective of pantry audit is to find out what type of consumers buy certain products and brands .It’s aim is to understand consumer preference. 4. Consumer panel Pantry audit approach on a regular basis is called consumer panel. Under this the daily consumption pattern of a set of consumers is made available to the investigator on demand. 131
  132. 132. Methods of data collection 5. Mechanical devices Mechanical devices like eye camera, motion picture camera, audiometer, psycho galvanometer etc are used to collect information. It is an indirect method of data collection used in developed countries. 132
  133. 133. Methods of data collection 6. Projective(indirect) techniques of data collection Sometimes the respondents are unwilling to reveal intimate information about themselves. In such situations indirect methods are used to collect information. Such indirect techniques are called projective techniques. In projective techniques the individual who is being observed interviewed is not aware of the fact that he is being interviewed. This is because the style putting the questions is not direct. 133
  134. 134. Methods of data collection 7. Panel method of data collection Panel method is a method of data collection in which data is collected from the same sample of respondents at intervals. 134
  135. 135. Methods of data collection 8. Content analysis Content analysis consists of analyzing the content of documentary materials such as books, newspapers, and the content of all other verbal materials which can be either spoken or printed. 135
  136. 136. Methods of data collection 9. Case study method It involves careful and complete and in-depth observation of a social unit (person, family, institution, cultural group, entire community) .This is fairly an exhaustive study of the social unit. Under this we not only study how many crimes a man has done but shall peep into the factors that forced him to commit crimes when we are making a case study of a man as a criminal. 136
  137. 137. Methods of data collection Sources of secondary data 1.Official reports of the Central, state and local Governments Every government department publishes annual and periodical reports on its working. e.g.: Agriculture, industry, education etc 2.Official publication of foreign government and international bodies like UNO and its subordinate bodies e.g.: UNESCO, WHO, ILO 137
  138. 138. Methods of data collection 3. Reports and publication of Trade associations, Banks, Co-operative societies, and similar government and autonomous organizations. e.g.: CAG, PAC 4. Technical journals, News papers, Books, Periodicals etc Journals, Magazines: - weekly, monthly, annual, Books 5. Publication of research organizations, centers, Institutes and reports submitted by Economists, Research Scholars etc. Secondary sources are in the unpublished form also. 138
  139. 139. Types of scales The most commonly used measurement scales are: Measurement scales can be divided into four groups on the basis of their mathematical properties: 1. Nominal scale 2. Ordinal scale 3. Interval scale 4. Ratio scale 139
  140. 140. Types of scales Nominal scale A nominal scale is a number or symbol or letter assigned to objects as labels for identification or classification 140
  141. 141. Types of scales Ordinal scale Ordinal scale is used for to rank the objects / arrange the objects according to their magnitude. Ordinal scale measures have no absolute values, and the real difference between adjacent ranks may not be equal. e.g.: students can be ranked according to their marks, military ranks 141
  142. 142. Types of scales Interval Scale In interval scale there is equal interval between two points on the scale. This scale has arbitrary zero but no absolute zero(true zero). Hence it does not have the capacity to measure the complete absence of a trait or characteristic. e.g.: Fahrenheit scale & Celsius scale But Kelvin scale has absolute zero 142
  143. 143. Types of scales Interval Scale e.g.: Fahrenheit scale & Celsius scale But Kelvin scale has absolute zero The difference between the interval 10C0 &30C0 is same as the difference between 40C0 &60C0 . But we cannot say that 30C0 is thrice as hot as 10C0. 143
  144. 144. Types of scales Interval Scale Due to this reason when an interval scale is used to measure psychological attributes the researcher can comment on: -magnitude of difference -compare the average difference b/w on attributes that are measured -but cannot determine the actual strength of attributes towards an object -but change in concepts over time can be compared if researcher continues to use the scale in longitudinal research. 144
  145. 145. Types of scales Ratioscale This scale measures absolute quantities with absolute zero. Absolute zero is the point where there is an absence of a given trait. This scale has equal interval and absolute zero. Height , weight, distance ,money , physical quantities etc can be measured using this scale All mathematical operations can be done with this scale With ratio scale one can say that A’s typing speed is twice as good as that of B 145
  146. 146. Attitude measurement Attitude measurement is a set of questions or statements which measures human behavior or feelings • Attitude is a hypothetical construct Hypothetical construct: A variable that is not directly observable but is measured through indirect indication, such as verbal expressions or overt behavior. 146
  147. 147. Attitude measurement Attitude has three components : 1.Affective component: This component of attitude that reflects one’s general feelings or emotions towards an object 2.Cognitive component: This refers to one’s awareness of the knowledge about an object. 3.Behavioral component: This refers to buying emotions and behavioral expectations reflects predisposition to action. 147
  148. 148. Attitude measurement Techniques of measuring attitudes 1.Ranking: Respondents rank the events or activities on the basis of characteristics. 2.Rating: Respondents estimate the magnitude of a characteristic or quality that an object possesses. 3.Sorting: classifying the concepts 4.Choice technique: Respondents choose between two or more alternatives. 148
  149. 149. Attitude measurement Types of attitude scales 149 Single item scale Multi – item scale 1. Itemized category scale 2. Rank order scale 3. Comparative scale 4. Constant sum scale 5. Q- sort scale 6. Paired comparison scale 7. Pictorial scale 1. Likert scales 2. Sematic differential scale 3. Thurstone scale 4. Stapel scale
  150. 150. Attitude measurement Category scales: An attitude scale consisting of several response categories to provide the respondent with alternative. e.g. How often your supervisor courteous and friendly to you? Never Rarely Sometimes Often Very often 150 Highly effective 1 Effective 2 Neither effective nor ineffective 3 Not very effective 4 Not at all effective 5
  151. 151. Attitude measurement Category scales: Very good Good Average Poor Very poor Excellent Very good Good Average poor Extremely important Very important Important Neither important nor unimportant Not important Very poor Poor Neither fair nor poor Fair Good Very good Excellent Don’t know Extremely likely Very likely Quite likely Neither likely nor unlikely Quite unlikely Very unlikely Extremely unlikely Excellent Very good Good Neither good nor poor Poor Very poor Extremely poor Extremely likely Very likely Quite likely Quite unlikely Very unlikely Extremely unlikely Excellent Very good Good Poor Very poor Extremely poor 151
  152. 152. Attitude measurement 1. Itemized category scale: Under this the respondents have to select an answer from a limited number of ordered categories. e.g. Itemized category scale where a hotel customer is asked to indicate the level of satisfaction for service provided. It has the properties of a nominal scale. This limits the mathematical analysis that may be utilized with this basic scale. 152 Cleanliness excelle nt Good Fair Poor Remar ks Ground Galleries Toilet Service Attitude Courtesy
  153. 153. Attitude measurement 2. Rank order scale: It is comparative scale, where the respondent is asked to rate an item in comparison to another based on a common criteria. E.g. Rank order scale used for analyzing motorcycles. 153 Brand of motorcycle Affordable cost High Mileage stylish Pick up Hero Honda TVS Bajaj
  154. 154. Attitude measurement 3. Comparative scales: In the itemized rating scale, the respondent selects a category based on perceptions. e.g: These respondents A, B, C selects three different categories based on their knowledge. To overcome this, comparative rating scale has been developed. Quality of sweets in shop ‘X’ in comparison to ‘Y’ The respondents will have uniform point of comparison for selecting answers. 154
  155. 155. Attitude measurement 4. Paired comparison scales: Respondents are asked to select one or two items in pair based pre-set criteria. Each item is compared with other items. e.g.: Paired comparison for toothpaste A& B Item that is most important to you for selecting toothpaste It forms nominal data, but it can be converted into ordinal data. 155 Paired comparison scale for a toothpaste A. Fights decay B. Fights decay A. Affordable. B. Affordable. A. Using germ protection B. Using germ protection
  156. 156. Attitude measurement 5. Q- Sort scales When the number of objects or characteristics to be rated is very large in number, it becomes difficult and tedious for respondents to rank order, in such a situation Q- sort scale is used. Respondents are asked to sort the cards based on some characteristics. 156
  157. 157. Attitude measurement 6. Constant sum scale Respondents are asked to divide number of points usually 100, among two or more attributes based on the importance they attach to each attribute. e.g.: Suppose you have Rs.3000/- in benefits per month. Divide Rs.3000/- according to your preference. GROCERY…………….. Medical insurance…………….. Retirement benefit……….. ____________________________________________ 157
  158. 158. Attitude measurement 7. Pictorial scales It is given to young children and illiterate who cannot understand other rating scales. Respondents are asked to rate a concept or statement based on their intensity of agreement or disagreement on a pictorial scale. 158
  159. 159. Attitude measurement Multi- item scale • These scales are used when it is difficult to measure people’s attribute based only on one attribute. 159
  160. 160. Attitude measurement 1. Likert scale (agree-disagree scale) • Likert scale (agree-disagree scale) was first published by psychologist Renis-Likert in 1932.The technique presents respondents with a series of attitude dimensions (battery), for each of which they are asked whether, and how strongly, they agree or disagree, using one of a number of positions on a 5-point scale. Responses using the Likert scale can be given scores for each statements, usually from 1 to 5, negative to positive, or -2 to +2.As these are interval data, means and S.Ds can be calculated for each statement. 160
  161. 161. Attitude measurement Likers scale (agree-disagree scale) Please rate the following statements on a scale from 1 to 5 (1- Strongly Disagree, 2- Disagree, 3- Neither Agree Nor Disagree, 4- Agree, 5- Agree strongly) Sum the scores for each respondent to provide an overall attitudinal score for each individual161
  162. 162. Attitude measurement Balanced Vs Unbalanced scale A balanced scale is used in situations where a broad range of responses are expected. An unbalanced scale is used where the results of preliminary research lean more towards one side of the scale than the other. Number of categories As the number of categories increases, accuracy increases. If number of categories increases more than 10 the respondent might confused and will not be able to assessing items to the different categories. Odd or even number of scale categories If the number of categories are even the respondents who are actually neutral cannot express his feelings. 162
  163. 163. Attitude measurement 2. SEMANTIC DIFFERENTIAL SCALE The semantic rating scale is a bipolar rating scale Semantic differential scale was developed by Osgood (1957) recommended the use of 7-ponts on the response scale, although 5-points and scales and 3-point scales are used for particular purposes. Middle point is the neutral point without indicating any specific direction 163
  164. 164. Attitude measurement SEMANTIC DIFFERENTIAL SCALE Example of a semantic differential scale. How would you rate your ad in the second scale? You can use any number from 1 to 5.Circle the number. 164 Worth remembering 1 2 3 4 5 Easy to forget Difficult to relate to 1 2 3 4 5 Involving or easy to relate to Lively, exciting or fun 1 2 3 4 5 Dull Ordinary or boring 1 2 3 4 5 Clever or imaginative Helps makes the brand different from others 1 2 3 4 5 Does not really make the brand appear any different from the others Makes me less interested in the brand 1 2 3 4 5 Makes me more interested in the brand
  165. 165. Attitude measurement SEMANTIC DIFFERENTIAL SCALE Please read each pair and indicate which of the statements you agree applies to the ad by ticking one box for each pair of statements. 165 Fascinating 1 1 2 3 4 5 6 7 Mundane Boring Interesting Important Unimportant Relevant Irrelevant Exciting Unexciting Unappealing Appealing Involving Uninvolving Means nothing Means a lot to me
  166. 166. Attitude measurement 3. Thurstone scale:- Under Thurstone scale , researcher selects a group of 80-100 items indicating the different degrees of favourable attitude towards a concept. These statements are given to a panel of judges , each of arranges them in groups or piles ranging from one extreme to another position. Middle value will be the median. 166
  167. 167. Attitude measurement 4. STAPEL SCALE Stapel scale is an attitude measurement scale that places a single adjective or an attribute describing an object in the centre of an even numbered numerical value. It has no neutral point. It is similar to semantic differential scale .But there is only one pole (adjective) rather than bipolar adjective. 167
  168. 168. Attitude measurement 4. STAPEL SCALE 168 The ginger bread store: +5 +5 +5 +4 +4 +4 +3 +3 +3 +2 +2 +2 +1 +1 +1 Is well laid out Has helpful staff Is attractive -1 -1 -1 -2 -2 -2 -3 -3 -3 -4 -4 -4 -5 -5 -5
  169. 169. Questionnaire design 1) Preliminary decisions 4) Question wording 1. Required information 2. Target respondents 3. Interviewing techniques 1. Shared vocabulary 2. Unsupported assumptions 3. Frame of reference 4. Biased wording 5. Adequate alternatives 6. Double barreled questions 7. Generalizations and estimates 2) Question Content 5) Questionnaire sequence 1. The utility of the data 2. Effectiveness in producing data 3. Participants’ ability to answer accurately 4. Respondents’ ability to answer accurately 5. Effect of external events 1. Lead in questions 2. Qualifying questions 3. Warm up questions 4. Specific questions 5. Demographic questions 3) Response format 6) Questionnaire pre- test, revision and final draft. 1. Open ended questions 2. Closed ended questions 3. Ranking questions 4. Multiple choice questions 5. Checklist questions 169
  170. 170. Questionnaire design • Preliminary decisions 1. Required information Questionnaire should be arranged in such a way to attain the objective of research. For this purpose the researcher should go through the secondary data and research studies that are similar to the current research. The researcher can conduct informal interviews with the prospective target audience. 2. Target respondents Before conducting the actual survey the researcher must make sure of the target population for the survey. 170
  171. 171. Questionnaire design Preliminary decisions 3. Interviewing techniques The formats of questions are different for:- Personal interview Focus group Telephone interview Mailed questionnaire 171
  172. 172. Questionnaire design • Question Content 1. The utility of the data The researcher should ensure that each question in the questionnaire contribute to the survey. The questions like 1. Does it significantly contributes towards answering the question? 2. Will it significantly contribute towards answering the research question? 3. Can the same information be gathered through any other question? Have to be asked If the question does not answer any of these three questions positively, then it should be dropped. 172
  173. 173. Questionnaire design Question Content 2. Effectiveness in producing data • Question should be effective enough to extract the required information from the interview. Some question needs to broken down into two specific questions (double- barreled questions) to elicit better and accurate answers from respondents. 173
  174. 174. Questionnaire design Question Content 3. Participants’ ability to answer accurately Questions should be framed using simple words. A respondent’s inability answer a question may arise from the following. -general ignorance about the topic -Inability to recollect the answers – omission (not remembering) - Telescoping (interviewee thinks that an event that occurred sometimes in past occurred more recently, e.g. the respondent may report purchase made a fortnight ago as done in the last week) - Creation ( when the interviewee thinks that the incident or event did not occur at all i.e. total forgetfulness) - Inability to verbalize 174
  175. 175. Questionnaire design Question Content 4. Respondents’ ability to answer accurately • Where the respondent completes the rest of the questions other than those he or she is uncomfortable with him. • Questions such as • “Were you involved in any extra- marital relationship in the last 10 years of your marriage?” • The refusal can be because of the question being offending, too personal and embarrassing, reflecting prestige. • Hence the respondent should carefully look into the inclusion of such questions. Very often questions of a personal nature will be answered by respondents in an anonymous survey. 175
  176. 176. Questionnaire design Question Content 5. Effect of external events Sometimes the respondent’s answer to a particular question is exaggerated or understated due to he influence of external factors. 176
  177. 177. Questionnaire design 3) Response format The response format usually deals with the degree of freedom that should be given to respondents while answering question. 177
  178. 178. Questionnaire design Response format 1. Open ended questions Open questions: Open question is one where the range of possible answers is not suggested in the question and which respondents are expected to answer in their own words. Open ended questions are also known as unstructured or free- response questions. E.g.: What do you eat……….? Which brand breakfast cereal did you eat today……….? 178
  179. 179. Questionnaire design Response format 2. Closed ended questions There is predictable and usually small set of answers to a closed question that the respondents can give. Questions, which restrict the interviewee’s answer to pre- defined options , are called closed ended question. 179
  180. 180. Questionnaire design Response format 2. Closed ended questions Dichotomous Questions Dichotomous Questions are simple closed questions which have only two possible answers. Yes/No, true/ false, agree/ disagree Such questions are not included in questionnaire because these choices may not cover the whole range of possible responses. Multi-chotomous or multiple choice questions Closed questions with more than two possible answer are known as multiple choice (or multi-chotomous) questions. The list possible answers provided should be exclusive and as exhaustive as possible. 180
  181. 181. Questionnaire design Response format 4. Multiple choice questions 181
  182. 182. Questionnaire design Response format 3. Ranking questions Respondents are asked to rank the response options listed on a continuum basis in order of preference e.g.: .the sources of information of prices are given below, Please rank them from the most important (1) to least important (7) Such questions make it easy to compare different alternatives at the same time. Sources Rank (a) Newspaper (b) Traders (c ) Brokers (d) Tyre manufactures (e) Television (f) Coop. Society (g) Others (specify) 182
  183. 183. Questionnaire design Response format 5. Checklist questions Participants have the freedom to choose one or more of the response options available. Which premium brand of shirts do you possess? 1. Van Heusen 2. Zodiac 3. Louis Phillippe 4. Peter England 183
  184. 184. Questionnaire design Question wording A slight mistake in the questionnaire can be annoying and cause potential problem in data analysis, resulting in incorrect results. Hence the following guidelines are used 1. Shared vocabulary Words used should be:- Simple Not ambiguous or vague Easily understood by the respondent (technical words) 184
  185. 185. Questionnaire design Question wording 2. Unsupported assumptions i.e. The questions should be explicit in itself e.g. Consider the following question to a lady ‘How often does your man accompany you to …………….? This will elicit varied answers and may even be misunderstood. 185
  186. 186. Questionnaire design Question wording 3. Frame of reference A simple word can have several connotations (meaning/ implications) under different situations. The interviewer should ensure that the interviewee has understood the questions in its denotive terms and qualifies the answer valid. 186
  187. 187. Questionnaire design Question wording 4. Biased wording Questions should avoid the use of biased wording. e.g. A question in the customer feedback form ‘How satisfied are you with the service provided at our restaurant?’ Is a biased question Implies that he customer is already satisfied and asks them to grade the service The question should be rephrased as ‘How satisfied or dissatisfied are you with the service provided at our restaurant?” thereby avoiding bias. 187
  188. 188. Questionnaire design Question wording 5. Adequate alternatives Multiple choice questions should be given adequate number of alternatives to avoid bias in response. 188
  189. 189. Questionnaire design Question wording 6. Double barreled questions Combinations of two questions should not be asked as one. e.g. Do you like fuel efficient cars with comfortable seats? It should be divided into two different questions. 189
  190. 190. Questionnaire design Question wording 7. Generalizations and estimates In questions actual figures should be given, generalizations and estimates should be avoided. 190
  191. 191. Questionnaire design Questionnaire sequence Interview in a funnel shaped process, starting with general questions and progressing to more specific ones. 1. Lead in questions It is better to start with dichotomous questions with two responses. The lead in questions can be about hot topics of the day, where responses are of little importance to survey. This will increase the respondent’s interest in the survey. 191
  192. 192. Questionnaire design Questionnaire sequence 2. Qualifying questions There are questions that slowly lead to the survey objective. e.g: A survey for estimating the market potential for a new fluoride- based toothpaste brand should ask qualifying questions like the following. Which type of toothpaste do you like? Ans: Fluoride, Herbal, Calcium Depending upon the answer the interviewer can further give direction to the next question. 192
  193. 193. Questionnaire design Questionnaire sequence 3. Warm up questions Interviewer asks certain facts related to the survey questions. e.g.: When was the last time you bought toothpaste? Was it fluoride or herbal? 193
  194. 194. Questionnaire design Questionnaire sequence 4. Specific questions Questions specifying to the research objective is asked. These questions tend to estimate the usage pattern and influential factors in using fluoride content toothpaste. These specific questions play a major role in data collection and analysis. 194
  195. 195. Questionnaire design Questionnaire sequence 5. Demographic questions These questions consist of a set of questions related to the age, sex, location, occupation etc. These questions are kept to the end to avoid interviewee’s resistance and to prevent the interviewee’s attention from being deviated. 195
  196. 196. Questionnaire design 6. Questionnaire pre- test, revision and final draft. It is testing the questionnaire on a sample of respondents selected on a convenient basis that is not too divergent from the actual respondents. It is for eliminating flaws in all aspects of the questionnaire. It should be done by personal interview. After the revision, the research instrument is ready for its final draft, which is to be used for the actual survey. 196
  197. 197. Analysis of data Processing of data (Preparing data for analysis) 1. Editing 2. Coding 3. Classification 4. Tabulation Descriptive Statistics Inferential Statistics Analysis of data (Analysis proper) Estimation of parameters Testing of hypothesis Point estimate Interval estimate Paramet ric test Non- parametric test Uni-dimensional analysis Bi- variate analysis Multi- variate analysis 197
  198. 198. Analysis of data Processing: Processing is a statistical method by which the collected data is so organized that further analysis and interpretations of the data becomes easy. Processing implies editing, coding, classification and tabulating the collected data so that they are amenable for analysis. 198
  199. 199. Analysis of data Editing: Editing is a process by which we ensure that all relevant data are included and irrelevant data are excluded. This is done by scrutinizing the questionnaires and schedules. Editing can be: Field editing:- it is done by the researcher at the time of recording the respondent’s response. Central editing:- It is done at the central office after collecting all the items 199
  200. 200. Analysis of data Editing is done for: 1. Consistency 2. Uniformity 3. Completeness 4. Accuracy 1.Consistency:- A comparison is to be made between the answers of those questions which were designed to be mutually confirmatory. If answers of such two questions appear to be mutually contradictory, it is essential to determine which one is correct. e.g: Marital status No of children 2.Uniformity Questions given should be expressed in uniform units. e.g:- salary / month, salary / year 200
  201. 201. Analysis of data Completeness: Ensure that all questions are answered Accuracy: This can be ensured by a skilled investigator 201
  202. 202. Analysis of data 2. Coding This is the process of assigning numerals or symbols tot the responses is called coding. Coding reduces the responses into a limited number of categories or classes e.g:- The question about the marital status of a respondent has two answers 1. Married 2. Unmarried Researcher may give code 1to married, and code2 for to unmarried. The coding should be mutually exclusive and collectively exhaustive. 202
  203. 203. Analysis of data 3. Classification Arranging data into groups or classes on the basis of common characteristics is called classification. Classification according to attributes (qualitative classification) Data are classified according to qualities known as attributes. e.g.: literacy, unemployment – descriptive classification Classification according to variables (quantitative classification) These can be measured in statistical units. e.g.: income, production, age, height, weight etc such data are known as ‘ statistical variables’ and are classified on the basis of class intervals. 203
  204. 204. Analysis of data Classification……….. • Size of class interval i= R (1+3.3logN) i= class interval R= Range N= Number of items Class intervals can be equal or unequal. 204
  205. 205. Analysis of data Classification………. Exclusive class interval 10-20 20-30 30-40 Capable of being measured in fraction (continuous) class interval: 10-20 Class limit: Lowe class limit= 10 Upper class limit= 20 Class boundary: Lower class boundary =10 Upper class boundary =20 Class mark: 10+20/2 Inclusive class interval 11-20 21-30 31-40 When phenomenon under consideration is discrete (measured in integers) Class interval:11-20 Class limit: Lowe class limit= 11 Upper class limit= 20 Class boundary: Lower class boundary =10.5 Upper class boundary =20.5 Class mark: 11+20/2 Number of items occurring in a class is called frequency 205
  206. 206. Analysis of data 4. Tabulation: Summarizing the raw data and displaying the same in statistical table is called tabulation One way table - one characteristic of the data Two way table-two characteristic of the data Three way table-three characteristic of the data 206
  207. 207. Analysis of data Principles of tabulation: 1. Title should be given 2. Row or column heading should be given 3. Unit of measurement 4. Foot notes 5. Source 6. Column/ rows separated by lines 7. Thick lines to separate data under one class 8. Column should be numbered 9. Column whose data are to be copared should be kept side by side 10.Column should be properly aligned 11.Abbreviations should be avoided as far as possible 12.Ditto marks should not be given 13.Miscellaneous/ exceptional items should be kept in the last column 14.Table should be logical 15.Total of row should be written at the extreme end 16.Total of column should be written at the bottom. 207
  208. 208. Essentials of a good report or principles in report writing Essentials of a good report or principles in report writing. 1. Clarity and coherence 2. Writing correctly 3. Brevity 4. Objective 5. Styled to the readers taste 6. Readability 7. Effective arrangement 8. Continuity of ideas 9. Consistency 10. Planning and organizing 11. Interest and appeal 12. Primarily a craft 13. Fitful and well communicative 14. Judicious selection of materials 15. Avoiding personal opinion 16. Concentrate on central ideas. 208
  209. 209. Essentials of a good report or principles in report writing 1. Clarity and coherence The researcher should be clear in his writing. There should be logical interconnection between ideas. 1. Writing correctly Report should be written correctly. For writing correctly one has to know grammar. The researcher should have good command over language. But he should not use complex high sounding language at the cost of clarity should always remember that he is writing scientific report and not a magazine article. 3. Brevity The report should be compact. The researcher should take care of the economy of words and concentrate on ideas.209
  210. 210. Essentials of a good report or principles in report writing 4. Objective The report should be free from the subjectivity of the researcher. It should be unbiased and objective. 5. Styled to the readers taste It should be written in such way that the readers can easily understand it. 6. Readability it should have short sentences, short paragraphs, one idea should be presented in one paragraph. It should have the quality of readability. It does not have reading twice. 210
  211. 211. Essentials of a good report or principles in report writing 7. Effective arrangement It should have a proper layout .i.e. it should have an introduction, body and the ideas should be presented in a logical and coherent manner. 8. Continuity of ideas Ideas should be connected in a logical sequence. If there is no logical sequence of ideas reader cannot understand it. 9. Consistency There must be consistency of thought. If there is no consistency of thought, there will not be any continuity of ideas. 211
  212. 212. Essentials of a good report or principles in report writing 10. Planning and organizing 11. Interest and appeal He should not write anything that does not appeal to him 12. Primarily a craft Report writing is primarily a craft that should be mastered by a researcher. 212
  213. 213. Essentials of a good report or principles in report writing 13. Fitful and well communicative The primary aim of the researcher is to communicate to the fitful and well. 14. Judicious selection of materials There should be judicious selection of the materials to convey the ideas. 15. Avoiding personal opinion E should not use the phrase like ‘It happens to me’, ‘I am sure’ etc 16. Concentrate on central ideas. The researcher should concentrate on the central idea of his theses and relate to every other aspect to it. 213
  214. 214. Layout / Structure / Contents/Format of a report Layout of a research report means what the research report should contain. A comprehensive layout of the research report should contain 1.Preliminary pages 2.Main Text 3.End Matter (Reference section) 214
  215. 215. Layout / Structure / Contents/Format of a report (A).Preliminary pages 1. Title page 2. Acknowledgement 3. Preface or forward 4. Table of contents 5. List of tables and figures (B).Main Text (Main Body) 1. Introduction 2. Methodology 3. Statement of findings 4. Conclusions and recommendations. 5. Summary of the report (C) .End Matter (Reference section) 1. Appendix 2. Glossary 3. Literature cited 4. Bibliography 215
  216. 216. Layout / Structure / Contents/Format of a report 1. Title page Researcher’s name Course for which study has been required Date of submission Name of the institution In published reports name of the publishers should be given 1. Acknowledgement For the guidance and The assistance he received It should be expressed in simply and tactfully 216
  217. 217. Layout / Structure / Contents/Format of a report 3. Preface or forward Scope Aim General character of research 4. Table of contents Chapter heading Major subdivision & Subdivision 5. List of tables and figures It should be given immediately after table of contents. 217
  218. 218. Layout / Structure / Contents/Format of a report 1. Introduction Context of study Purpose of study Significance Statement of the problem in logical manner Definition of the problem Extra areas of investigation Source of information Definition of techniques Relevance of study 218
  219. 219. Layout / Structure / Contents/Format of a report 2. Methodology 1. Objectives- purpose of study 2. Hypothesis 3. Research design- plan of action- reasons for particular design-merits and demerits 4. Universe and sample- sampling method- nature of universe- merits and demerits of sampling method 5. Source of data- method employed for data collection. 6. Techniques used for analysis- tools used- correlation regression- factor analysis etc 7. Survey of literature- reference made to similar studies- evaluation of the literature survey. 219
  220. 220. Layout / Structure / Contents/Format of a report 3. Statement of findings Finding means result with supported data in the form of tables and charts. It extends over many sections and chapters. The number of sections and chapters depends on the nature and magnitude of the problem being enquired into. If more than one issue related to the same subject is discussed, it is better to have more sections. Result should be presented in logical sequence and split into readily identifiable sections. All relevant results must find a place in the report. Negative and positive results should also be presented in the report. • 220
  221. 221. Layout / Structure / Contents/Format of a report 4. Conclusions and recommendations. – This is the final unit of the research report. Conclusions should be drawn with direct reference to the objectives of the study. – He must be specific with reference to the hypothesis formulated by him. – He has to state whether the hypothesis is accepted or rejected. – He has to state his contributions to his field of study. – The researcher has to make his recommendations or suggestions in the concluding chapter for further study. 221
  222. 222. Layout / Structure / Contents/Format of a report 5. Summary of the report This is the abstract of the study, for the readers to understand the contents of the report quickly. It is prepared only after the full report is written 222
  223. 223. Layout / Structure / Contents/Format of a report 1. Appendix Letters Questionnaires It should be arranged in the order in which it is used for the study. 2. Glossary Alphabetical listing of unfair terms with their meaning used in the theses. Theses which contains many local or regional terms need a glossary. 223
  224. 224. Layout / Structure / Contents/Format of a report 3. Literature cited List of reference used in the text arranged in the order in which the references are indicated in the text. Source of quotation Paraphrase Idea borrowed 4. Bibliography All reference to related study. It should be arranged alphabetically In long bibliographies, references are divided into books, periodicals, reports and bulletin etc. 224
  225. 225. FINANCIAL DERIVATIVES AND RISK MANAGEMENT Module I Introduction to derivatives ; nature and markets of derivatives ; Valuation of forward and future agreements ; properties of option prices ; Binomial option pricing – Black Scholes,Option pricing Formula Module II Sensitivity of option prices; trading strategies in options ; interest rate swaps ; forward rate agreements and interest rate futures. Module III Source and types of business risk – implications of business risk – risk perceptions of individuals and institutions – Generic alternatives for managing financial risk – diversification – Reinsurance – Contingent contracts. Module IV Risk Management using derivatives - basic properties of options - Interest rate Options – Trading strategies using options – Hedging Positions in Options – Synthetic options and portfolio insurance. Corporate Exposure Management Structured Debt and Risk Management. Module V Accounting and Administration of Derivatives – Derivatives in the Indian Market – Trading Infrastructure – Issues in regulation of derivatives activity. 225
  226. 226. PROJECT MANAGEMENT Module-1 Project Defined; Theoretical framework; Risk analysis and utility theory Module -11 Project appraisal and feasibility – Project identification; Preliminary screening, industrial policy, market analysis, technical analysis ,financial analysis, social cost benefit analysis Module -111 Income tax benefits ; incentives offered – Role of financial institutions Module -1V Project evaluation and selection – CPM and PERT- project management organizations – Role of project management Module -V Project implementation – Tendency , contacting , vendor selection , project planning and scheduling , MIS for project management , Project control Monitory review and feed back 226