BUS203: Week1 (Basic Concepts of Research Methodology)Research and Statistical Methods: Understanding Systematic Research, Research Problem, Hypothesis, Variables (Independent, Dependent, Controlling), Population, Sample, Sampling Techniques (Simple Rando

BUS203: Week1 (Basic Concepts of Research Methodology)Research and Statistical Methods: Understanding Systematic Research, Research Problem, Hypothesis, Variables (Independent, Dependent, Controlling), Population, Sample, Sampling Techniques (Simple Random, Stratified, Cluster), Data Collection Methods (Survey, Interviews, Observation, Document Analysis, Experiment), Data Analysis, Reliability, Validity, Quantitative and Qualitative Research, Research Ethics (Informed Consent, Confidentiality, Integrity, Conflict of Interest), Research Design, Descriptive Statistics (Mean, Median, Charts), Inferential Statistics (Hypothesis Testing, Confidence Intervals), Statistical Control, Data Collection and Preparation, Data Visualization (Charts, Tables, Dashboards), Statistical Analysis and Modelling (t-tests, ANOVA, Regression, Machine Learning) Exam Questions Verified and Provided with Complete A+ Graded Rationales Latest Updated 2026 Research a systematic study conducted to produce new knowledge, test existing knowledge, or solve problems. It is a scientific, objective, and planned process Research problem a question or uncertainty that needs to be answered or resolved Hypothesis a proposition put forward regarding the research problem Variables elements that are measured, controlled, or manipulated in the research Three types of variables: 1. Independent - variable that affects (affecting), e.g. social media advertisements 2. Dependent - variable that is being affected (affected), e.g. consumer's purchasing decisions 3. Controlling - variable that is constant (controlled), e.g. gender, age Population all units covered by the research (individuals, animals, objects, etc.) Sample the smaller group selected from the population on which data is collected Sampling process of selecting a sample that can represent the population Data information collected to answer research questions; information can be qualitative and quantitative Data Collection Methods: • Survey • Face-to-face interview • Observation • Document analysis • Experiment Data Analysis process of analyzing collected data using appropriate statistical techniques and reaching conclusions Reliability determination of a measurement's consistency Validity determination of whether what needs to be measured is being measured Quantitative and Qualitative Research: Quantitative: numerical (measure, test - surveys, experiments) Qualitative: verbal/narrative (understand, discover - interviews, observations) Research Ethics: • Informed consent • Confidentiality • Integrity • Avoiding conflicts of interest Research Design stage when the plan is made, and research methods and analysis strategies are chosen along with data collection Statistics