DQ 6 DQ 7 WEEK 5 - Essay Example

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The population sample must be truly representative of the population to be studied. The method used to collect the sample must be convenient for the sampler. The sample can be collected randomly or following a quota for each group.
The sample size depends on the population size and the accuracy needed from the study…
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DQ 6 DQ 7 WEEK 5
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QUESTION #5 A. What was the criteria for selecting the Project's population and sample selection The population sample must be truly representative of the population to be studied. The method used to collect the sample must be convenient for the sampler. The sample can be collected randomly or following a quota for each group.
B. (1) What was the criteria for determining the sample size (2) What was the sample size
The sample size depends on the population size and the accuracy needed from the study. The minimum sample size is thirty observations. The sample size was 30 samples. However analysis of this data did not provide statistical significant results. More data was needed so 50 data samples were collected to achieve statistical significance.
C. What data source was used to collect samples
The data was collected by means of observation of unleaded gasoline prices in local stations. Questionnaires were not used because key personal determining the factors affecting price changes in gasoline were not accessible. Other data was collected by use of interview with gas station personnel to gather their opinion concerning possible causes for changes in gasoline prices.
A. What is Good Research
Good research provides new and unbiased findings that are important to some entity or group of people. The researcher must not benefit from the outcomes and findings of the study as to ensure the integrity of the findings. Information collected should best represent the population that is being tested. Good research utilizes the most appropriate data collection methods such as surveys, interviews, etc and research tools such as periodical indexes, databases, and Web sites.
B. Reflecting on your business project, which of the nine actions do you feel you (or team) did well Explain.
Preparation and planning for the project was well performed and executed. All aspects of the research was covered and accounted for in our research plan.
C. Reflecting on your business project, which of the nine actions do you feel you (or team) would improve next time around Explain.
The data collection should be revised to include more data and collect more variables to consider during our study.
D. What value can come from a research project when the null hypothesis is not rejected and there is no statistical significance
If the null hypothesis is not rejected, then the alternate hypothesis is not accepted. This is because the initial sample of 30 records did not provide enough information to infer statistically significance of the hypothesis to be tested. Read More
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