Quantitative Methods Assignment Sample

Quantitative Methods 

Introduction of Quantitative Methods Assignment Sample

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Task 1: Design of Data Collection

Here the name of the company is Coupang which is located in Korea. In the modern days, every customer prefers the online services which help them to avoid the outing process. Now, it has decided to open a franchise in Brunei (Blackstone, A. 2018). The specialization of the franchise is to serve accurate and fast delivery. For this, the customers do not face any type of problematic situation. It is the type of Ecommerce service by which the products can be easily delivered in the customers’ home. The questions on the Ecommerce are:

• Which types of products can be sold in franchises?
• How can the price be fixed to make it acceptable for the customers?
• Which is the easiest online process in this fast delivery service?
• Which are the preferable options to grow the customers’ interest?
• How can the business be started in a proper way?
• How many employees are needed to develop the business?
• What are the easy steps to develop the online business?
• Why is the online system more preferable than offline to the customers?

The aim of the research is to use the proper methods for changing the offline business into an online system (Bruce et al. 2018). It is helpful for the customers because they can get the products and services from their home. The employees also get a good chance and their hardworking system turns into smart working by this method. The objectives are:

• To support the changing system from offline to online
• To help the employees for reducing their work pressure
• To engage with the management team for getting the financial at any time
• To maintain good behavior style with all the customer

Task 2: Strategy of Data Collection

Target population is the intending part of readership or audience of the advertisement, publication or catering other message to make the specification for intending the audiences. This is the individual groups which is helpful to intend the intervention of conducting the research in and drawing from of the conclusions. The customers based on company, the particular country based on population, the students at the particular tenants or university of the housing association (Burkholder et al. 2020). The targeting populations are analyzing the basis of customers and carrying the interviews of clients, conducting market research and identifying the trends of the industry, analyzing the competitors, creating the personas, defining the making process of the target audience, revising the continuous basis and using the Google analytics. But there are always some differences between the normal and target population. The target population is the amount of total population by which the cases of information are required to make the basic safety based on the general habitats. The good sides of the target population are eliminating the bottom line feeders, doing the sample value based on offer, having more effective work in market spending and making the better focus on messaging which is focused on their needs but not the needs of the entire universe (Hosseini et al. 2019). These are the common differences by which the target population can be differentiated from normal audiences. Setting the clear aim and objectives for the research topic are the main calculations of the method. Here the specific company is Coupang which is situated in Korea. Now its main wish is to open a new branch for giving the online services to the customers. It is important to boost up the sales, lead the campaigns of convincing markets and create the loyalty brand by which the customers easily attract (Kartika et al. 2020). Sampling method is based on two qualities like survey methodology and quality assurance. These are both important to know the particular form of the topic. The four types of sampling are random simple sampling, random stratified sampling, random cluster sampling and random systematic sampling. These are helpful to collect the proper sample from the research paper. But for this, the choosing of the question years is necessary to collect the proper information from the data. Here the random systematic sampling is used to make the overview of the research topic and the company. The main basis of the research is Coupang and its online business (King et al. 2019). For this, the interviewing method plays a big role because the customers who cooperate with it and share their own experience on online business are very much cooperative to proceed the system in one step. Here the data collection method is a secondary type because all the researching data is based on the customer's experience and as they say that it is the perfect process then there is no chance of compromising. They share their knowledge as much as the ideas they have and make the research preferable to the people.

Task 3: Presenting and Collecting Data

 Bar Charts - Overview, Data Visualization and technical Analysis

(Source: https://corporatefinanceinstitute.com)

First one is about the bar charts where the overview, visualization of the data and the technical analysis are described through the graph. To explain the data visualization method, the recent data of three years like 2018, 2019 and 2020 are presented here to inform the up and down process of the visualization.

 Visualizer Template: Bar Chart - Codebase Visualizer Templates - Postman API Network

(Source: https://www.postman.com)

Second one is the comparison with cities and the number of bars in each city. For this, San Diego, Livermore, Los Angeles, Escondido, Pasadena, Chula Vista, Cloverdale and San Jose are chosen as the comparing cities to inform the numbers of the bars in every location. The high, low and medium ranging bars are presented in these cities and it is identified through the color of every bullet.

 Everyday Math 2 (Wales) - Open Learn - Open University

(Source: https://www.open.edu)

Third one is the comparison on numbers of the total students and the section of the favorite sports. Here boys and girls play the same role to participate in the sport. The selected sports are football, hockey, rugby and others. The students select their favorite sports and the color is divined based on the boys and girls.

 Bar Graph – E draw

(Source: https://www.edrawsoft.com)

Fourth one is on the information of the total numbers of electric cars worldwide. The data is gathered from 2012 to 2019 and it is seen that the graph is increasing accordingly (Provenzano et al. 2019). As a result, the numbers are at the lower arte in 2012 and at the higher rate in 2019. It presents the improvement of the business worldwide by comparing the numbers of electric cars.

 Histogram versus Bar Graph - Storytelling with Data

(Source: https://www.storytellingwithdata.com)

 Relative Frequency Histogram: Definition + Example - Stat ology

(Source: https://www.statology.org)

 Histogram Classes: Information and Examples

(Source: https://www.thoughtco.com)

 Using Histogram to Understand the Data - Statistics by Jim

(Source: https://statisticsbyjim.com)

Task 4: Data Analysis

To make the proper results in data analysis, the using methods are descriptive statistics, a box and plot diagram, a scatter diagram, the coefficient of Pearson product moment and the line equation of linear regression. Here the two main using methods are the coefficient of Pearson product moment and the line equation of linear regression.

 Pearson Product-Moment Correlation - When the person should run this test, the range of values the coefficient can take and how to measure strengths

(Source: https://statistics.laerd.com)

In this diagram, three different types of diagrams are drawn as the product moment correlation. First one is on positive correlation, second one is on negative correlation and third one is on no correlation. Every correlation has its own effect by which the range of the test, the value of the coefficient data and the measurement of strengths are described in the proper way (Sablan, J.R. 2019). Here it is the same for the graph and in this particular portion, the running test of the person is measured by calculating the coefficient values and strengths. The values and strengths vary in these correlations and give the exact results by measuring these graphs.

 How to Create Own Simple Linear Regression Equation

(Source: https://owlcation.com)

Here the simple linear regression diagram is created on the topic of ice cream sales. Every business has their profit and losses which totally depend upon the product quality and customer approaching method. But the most important part is reasonable prices because without the proper cost, the products are not acceptable to the customers (van Rij et al. 2020). On the other hand, the price is fixed depending on the quality of services and products. For this, the proper judgment is very much needed to start the business in a proper way and get good reviews from the customers.

Task 5: Overall Conclusion and Recommendations

Here the topic is on quantitative methods which are based on statistical systems. The discussion parts are the design of data collection, strategy of data collection, presenting and collecting data and data analysis. These all are the focusing events of the topic by which they can help the customers by giving the proper information and know them about the good effects of online services. The data is collected after the proper interviewing process of the customers which is helpful to the other people to get the beneficial terms of the service (López et al. 2018). It is very helpful in the pandemic situation and by using this method, the hard work turns into smart work. The recommendations are to hire the talented and experienced employees who are properly knowledgeable about the system and cooperate with the customers in any time any situation. For this, the company gets good reviews from the customer side and develops their business in a proper way. The help of the management team is also very necessary in this method to reduce the pressure of the financial purpose. Good bonding with the internal and external workers of the company is important to achieve the future goal and make the business successful in an exact way.

References

Journals

Blackstone, A., 2018. Principles of sociological inquiry: Qualitative and quantitative methods.

Bruce, N., Pope, D. and Stanistreet, D., 2018. Quantitative methods for health research: a practical interactive guide to epidemiology and statistics. John Wiley & Sons.

Burkholder, E., Walsh, C. and Holmes, N.G., 2020. Examination of quantitative methods for analyzing data from concept inventories. Physical Review Physics Education Research, 16(1), p.010141.

Hosseini, S., Ivanov, D. and Dolgui, A., 2019. Review of quantitative methods for supply chain resilience analysis. Transportation Research Part E: Logistics and Transportation Review, 125, pp.285-307.

Kartika, H., Norita, D., Triana, N.E., Roswandi, I., Rahim, A., Naro, A., Izzati, T., Munita, A.A., Junaedi, D., Suprihatiningsih, W. and Purwanto, A., 2020. Six Sigma Benefit for Indonesian Pharmaceutical Industries Performance: A Quantitative Methods Approach. Systematic Reviews in Pharmacy, 11(9), pp.466-473.

King, K.M., Pullmann, M.D., Lyon, A.R., Dorsey, S. and Lewis, C.C., 2019. Using implementation science to close the gap between the optimal and typical practice of quantitative methods in clinical science. Journal of Abnormal Psychology, 128(6), p.547.

López, N., Erwin, C., Binder, M. and Chavez, M.J., 2018. Making the invisible visible: Advancing quantitative methods in higher education using critical race theory and intersectionality. Race Ethnicity and Education, 21(2), pp.180-207.

Provenzano, D. and Baggio, R., 2019. Quantitative methods in tourism and hospitality: a perspective article. Tourism Review.

Sablan, J.R., 2019. Can you really measure that? Combining critical race theory and quantitative methods. American Educational Research Journal, 56(1), pp.178-203.

van Rij, J., Vaci, N., Wurm, L.H. and Feldman, L.B., 2020. Alternative quantitative methods in psycholinguistics: Implications for theory and design. Word knowledge and word usage: A cross-disciplinary guide to the mental lexicon, pp.83-126.