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Finance Assignment Question
1. The terms qualitative and quantitative are used to describe research approaches, designs and methods.
a. Discuss the difference of purpose and usefulness of the qualitative verses quantitative.
b. Compare and discuss the approaches to analysing data used in qualitative and quantitative studies.
c. Explain with examples whether or not you think these two approaches are mutually exclusive.
2. There is a claim that qualitative methods are not well-suited for testing hypotheses. Discuss this claim providing examples to support your discussion about whether you believe the claim is true or false. 8 marks
3. Describe how one can enhance the potential validity (internal and external) of a qualitative research project throughout the research process; that is, in
a. creating a research design;
b. analysing your data;
c. writing up your findings.
4. Provide a brief description of the following sampling methods and include an example for each method where it might be used:
a. Simple random sample;
b. Stratified random sample;
c. Systematic sampling.
5. The content of a research report may be drawn from primary or secondary sources.
a. Explain what is meant by these sources.
b. Provide an example for primary source.
c. Provide an example for secondary source.
6. A company has sales of $200 million and a 15 percent gross profit margin (before taxes). Cost of materials is 60 percent of income from sales. The materials manager believes that $20 million can be saved through improved purchasing policies. A research project will be conducted in order to develop a new improved purchasing policy.
a. Suggest a research approach to use for this investigation and explain why you believe the approach is appropriate.
b. Write a brief proposal and purpose statement.
Finance Assignment Solution
A quantitative research approach is used in cases where the data can be quantified or is numerical. A quantitative research is used , where the data that is being used for research, can be measured in numbers. It relies on making conclusions with respect to the data gathered with the help of various statistical models and charts.[A1]
It is normally used for the part of the research project wherein the data has to be understood with a more objective approach. The data will be more precise and would be more in the form of various numerical patterns and figures.
A qualitative research approach is used in cases where the project is more subjective in its approach. It is normally more investigative in nature. It [A2] may not lead to a result which is conclusive but it provides a more in-depth understanding of the situation or the problem.
It is used in problems wherein a broader insight is important which can facilitate better decision making. They provide data which not only shows certain patterns or behavior but also the reasons for those patterns and behavior.
In a quantitative approach, the data is normally gathered through surveys, questionnaires or various equipment which can provide statistical data. This data would be then analyzed with the help of various numerical models involving graphs and charts.
In a qualitative approach, the data is normally gathered through various images, semi-structured interviews or group discussions. The data gathered would then be analyzed in great detail and in a more comprehensive manner.
Both Quantitative and Qualitative approaches are different in manner but they are not mutually exclusive. It is important that both these approaches need to be integrated for any research to be successful.
Social Marketing uses both the approaches in order to be successful. They take the help of the quantitative approach by taking a small sample and with the help if numerical data apply it to a larger audience.
With the help of the qualitative approach, they try to gather data from the consumers through various data gathering techniques and try to understand the consumer behavior.
[A1]Adding a reference would have been better
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