Data Collection Method

For our teams research question we have created a data collection plan which will indentify the how data was collected, observational targets, sampling strategy, and acts involved with the study.
To begin the data collection process we will ask ourselves investigative questions that will allow us to break down the initial research question of “How does personal savings impact GDP?” By asking investigative questions we can break our general research question into more specific questions about which to gather data. Some investigatigative questions could be; is there a positive correlation between personal savings and GDP, and can household savings predict whether the GDP will grow or decline? After designing the investigative questions we put together a survey that we will have the participants of our sample group fill out. Using inferential statistics we took a sample group from the population and had them fill out a survey/questionaire that correlates their savings with their personal spending for the year. The study will be a communication study; this is where the researcher questions the participant and records their responses. There are four researchers involved in the study and the sample group which is made up of 100 participants. The four researchers are well trained in applied business and research statistics. The questionaire will consist of 25 measurement questions that the recipients will fill out that will allow us to see the correlation between personal savings and domestic G.D.P. The questions will range from basic to advance. Basic questions for example; name, gender, age, etc. Advance questions; how much do you spend a month on groceries? How often do you put away monies from your paycheck into savings, how much money on average can you say you save a year? The time frame of the study will be 7 days. The