Research methodology 2013

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

RESEARCH METHODOLOGY
RESEARCH
RE-
SEARCH-
2

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

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

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

.
Research approaches
Quantitative approaches qualitative approaches
1. Inferential
2. Experimental
3. simulation
6

Quantitative Research
It is based on measurable quantities
Sample is studied and inference is made about
population characteristics
7

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

.
1. Subjective study
2. Objective study
3. Intra- subjectivity
4. Inter subjectivity
5. Inductive reasoning
6. Deductive reasoning
9

.
Inductive and deductive reasoning
Inductive reasoning: moves from specific
observation to border generalisations
Deductive reasoning: more general to more
specific
10

.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

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

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

TYPES OF RESEARCH
3 Applied research
It is concerned with solution of particular problem.
It is concerned with applied aspects of life.
14

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

TYPES OF RESEARCH
5 Qualitative research
It is concerned with measurement of attitudes
opinions and behaviour.
16

TYPES OF RESEARCH
6 Quantitative research
It is based on measurable quantities
Sample is studied and inference is made about
population characteristics
17

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

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

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

TYPES OF RESEARCH
10 Experimental or laboratory research
It is concerned with research experiments
conducted in laboratory.
e.g: research in physical science
21

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

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

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

TYPES OF RESEARCH
14 Clinical research
It is done in clinic
25

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

TYPES OF RESEARCH
16 Formalised research
It involves formal structure and testing of
hypothesis.
27

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

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

TYPES OF RESEARCH
22.Library research
This research is based on materials available in the
library.
23.
30

Research method Vs research methodology
Research method: all those methods and
techniques used for conducting research
Research methodology: it is a science
31

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

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

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

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

.Problems can be classified into:
1.Conceptual problems
2.Empirical problem
3.Logical problems
36

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

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

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

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

.
“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

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

Phases / parts of research design
1.Sampling design
2.Observational design
3.Statistical design
4.Operational design
43

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

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

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

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

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

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

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

.
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

Types of R.D
1. Exploratory or formulative R.D
2. Descriptive and diagonastic R.D
3. Experimental(Hypothesis testing) R.D
52

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

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

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

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

Basic principles of experimental research
1. Principle of replication
2. Principle of randomization
3. Principle of local control
57

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

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

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

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

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

2.After only with control group
Then the result is compared
Experimental group
Treatment is given
Control group
No treatment is given
63

3.Before & after without control group
- Dependent variable is measured before and after
the introduction of treatment
64

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

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

External Experimental R.D
It is based on two principles, principle of replication and principle of
randomization.
CRD
Two group randomized design random replication
Population Population
Sample Sample
No treatment Treatment is given
This treatment is repeated , it is technically called replication
67

It is based on two principles, principle of replication and principle of
randomization.
CRD
Two group randomized design random replication
Population Population
Sample Sample
No treatment Treatment is given
This treatment is repeated , it is technically called replication
69

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

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

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

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

Exploratory R.D
Methods of exploratory R.D
1. Survey of literature
2. Experience survey
3. Analysis of insight simulating experience
74

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

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

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

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

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

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

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

Sampling design
Universe or population
Types :
1. finite: population in the city
2. infinite :stars in the sky
Sample
census
82

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

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

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

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

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

Sampling design
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

Sampling design
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

Sampling design
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

Sampling design
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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

5. Disguised observation
The researcher’s presence is unknown to the
people he is observing.
113

II. Interview method:
Interview method is a direct method of collecting
data. It is a verbal method of collecting data.
114

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

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

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

3.Diagnostic:
Objective is to find out the cause of some social events or
problem
118

4.Research :
Objective is to find out the information pertaining to a
specific problem
119

5.Non- directed:
This is an uncontrolled interview in which no plan is drawn
about the question to be asked
120

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

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

8.Depth:
This is a lengthy interview conducted to discover
underlying motives attitudes, feelings, emotions, etc of
respondents.
123

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

10.Individual:
When interview is conducted on a single respondent it is
called individual interview. Here information is
collected by single interview
125

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 prefixed.
1. Unstructured:
126

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

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

1. Warranty cards
It is postal cards used by dealers of consumer
durables, to collect information regarding their
products.
129

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Multi- item scale
• These scales are used when it is difficult to measure
people’s attribute based only on one attribute.
159

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

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

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

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

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

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

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

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

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

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

• 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

Preliminary decisions
3. Interviewing techniques
The formats of questions are different for:-
Personal interview
Focus group
Telephone interview
Mailed questionnaire
171

• 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

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

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

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

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

3) Response format
The response format usually deals with the degree of
freedom that should be given to respondents while
answering question.
177

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

Response format
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

Response format
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

Response format
4. Multiple choice questions
181

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

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

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

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

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

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

Question wording
5. Adequate alternatives
Multiple choice questions should be given adequate number
of alternatives to avoid bias in response.
188

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

Question wording
7. Generalizations and estimates
In questions actual figures should be given, generalizations and
estimates should be avoided.
190

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

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

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

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

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

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

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

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

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

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

Analysis of data
Completeness:
Ensure that all questions are answered
Accuracy:
This can be ensured by a skilled investigator
201

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

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

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

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

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

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

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

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

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

7. Effective arrangement
It should have a proper layout .i.e. it should have an
introduction, body and conclusion.ie 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

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

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

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

(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

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

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

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

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

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

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

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

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

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

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

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

Research methodology 2013

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Research methodology 2013