Exploratory research

Deal with a new issue or try to begin a new research Precise question that can answer in future research Sources of information to conduct ER Experience survey Analysis of secondary data Case studies Pilot study

Reasons for ER
When problem not clear It is a initial research Determine the research design and data to be collected Mostly rely on secondary data Results of ER cannot be used for decision making Findings can be used for further research

Causal research
Causal research is undertaken to see if there is cause and effect relationship between variables 2methods to explore cause and effect relationship 1. Experimentation- controlled method. Effect of independent variable on dependent variable 2. Simulation a set of mathematical formula to simulate. Eg by equation

Theoretical Research
It is a research in a which the goal is to prove or disprove a hypothesized truth The research aims to understanding of a class of phenomena and the relationship among key components of phenomena TR is always designed to be independent of any situation

 Help managers to solve similar problem Objective- to understand why some thing works, how it works , under what condition does it works , when it works

Empirical Research
Research based on experimentation or observation (evidence) Research in which empirical observation{data} are collected to answer the question. Use all the statistical tools like chi square, t test , anova.

Empirical cycle
1. Observation collecting and organising empirical facts to form hypothesis 2. Induction - process of formulation of hypothesis 3. Deduction get the consequences with newly gained empirical data 4. Testing test the hypothesis with new empirical data 5. Evaluation - evaluate the outcome of testing

Empirical research process

1. 2. 3. 4. Topic and research question Review of literature Framing of empirical strategy Collecting data cross sectional data, times series data 5. Interpretation of results 6. Preparing report

Cross - sectional research

It involves the collection of data on more than one case and at a single point in time in order to collect a body of quantitative or quantifiable data in connection with two or more variables which are then examined to detect patterns of association

 Also called one shot or status research The design is always simple Two types of CS Research Field studies Survey studies

Time Series research

In time series research, the data is collected from the sample or population at successive intervals The data will relate to matched samples drawn from the same population at intervals

Research hypothesis
Examples: High tax rates are having adverse impact on savings and investment Sales is directly correlated to the expenditure on advertisement Traditional investment patterns are prevailing among the people are responsible for low capital formulation

Functions of hypothesis
Provides the study with focus Gives the specific aspect of the problem to investigate Tells what data to be collected Enhances the objectivity of the study Gives the explanation for the relationship b/w variables

Sources of hypothesis
1. A hypothesis arises form intuition 2. A hypothesis also arises form other studies findings of other studies is taken as hypothesis 3. Theory is a base of hypothesis 4. Personal happiness provides scope for hypothesis

Formulation of hypothesis
This is the most difficult exercise Direction of the study is determined by the way in which hypothesis is formulated What is to be accepted , wht is to b not accepted, what facts r 2 b considered all r d problems of a researcher H is developed on the basis of pure assumption, observation & sharp guess.

 Researcher Ist gets the observations Then he frames an opinion Due to further interest he collect ,data make small analysis and reaches his conclusions Observation determines the direction and gives the point on which to concentrate. This finally becomes working hypothesis

 Without working H - difficult to carry out study and time consuming H helps in selection of facts which r problem in hand. Need for working hypothesis: H is formed to verify the relationship among the variables It gives the definite point of the inquiry Gives the facts on which to concentrate H prevents a blind search, irrelevant data collection -ve result is important as +ve result

Problems in formulating the hypothesis

1. Absence of theoretical base : H is related to the body of theory Consult the work of various other people & See whether the propositions are related to the existing theory Researcher has to form the own propositions as long as it is reasonable.

2. Lack of ability to use the framework logically: Propositions shd be in correct sense in a logical manner. This depends on knowledge and ability of the researcher. 3. Failure to acquaint with techniques: Fail to explain techniques used to test the H Lack of knowledge to recent techniques

Estimation and testing of hypothesis

2 approaches to hypothesis testing: 1. Sampling theory approaches: Traditional approach Decision making rests upon sampling data H accepted will be rejected or accepted based on sampling data.

2. The Bayesian approach: Along with sampling data additional information used for decision making . It consists of subjective probability estimates

Hypothesis testing procedure

1. Null hypothesis 2. Alternative hypothesis II. Choosing statistical technique III. Selection of significance level IV. Type I error ,type II error Finally draws the statistical decision.

Problems in testing hypothesis

Tested with sample data not against the sample. Statistical evidence not always a conclusive evidence If interpretation is wrong. All r wrong. Availability of reliable data Manipulation of hypothesis