Free Essay

# Research Method

In: Other Topics

Submitted By amisha
Words 3198
Pages 13
F Q RESEARCH METHODS

TOPIC 2 OPTIMISATION
1. Multi Variables Optimisation 2. Constrained Optimisation I 3. Constrained Optimisation II
Reading: Jacques Ian (2006), Mathematics for Economics and Business, 5th Edition Prentice Hall - Chap 5.1, 5.4, 5.5, 5.6 & Appendix 3 Chiang, A and Wainwright, K (2005), Fundamental methods of mathematical economics, Mc Graw Hill - Chap 12.1, 12.2, 12.3

1. Multi Variables Optimisation
Refresher: Optimisation of a function
 Suppose have a function like this: f(x) = 2x + 10  If want to optimise the function, follow a few steps:  Step 1: Differentiate the function: f'(x) (also denoted fx or dy/dx)  Step 2: Set the differential equal to zero: f '(x) = 0.  Step 3: Solve for value of x  To establish what type of turning point(s) you have found, steps 4 & 5  Step 4: Find the second differential: f''(x) (also denoted fxx or d2y/dx2)  Step 5: Evaluate the second differential at the turning point(s).
• If f ''(x) > 0, you have a minimum point. • If f ''(x) < 0, you have a maximum point. • If f ''(x) = 0, you may have a point of inflection.

1. Multi Variables Optimisation
1.0 Differentiation
 Many relationships involve more than two variables. E.g. Demand for a good is a function of its price, advertising, price of other goods, etc  E.g. y = f(x1, x2, …, xn)  Interested in impact of change in one/all of the variables on y  Since there are more than just 1 variable, we distinguish between partial derivative and total derivative  Partial: change in y when only 1 of the x’s is changing. The partial derivative of y with respect to xi is denoted as δy/δxi or yxi or δf/δxi or fxi and is found by differentiating y with respect to xi holding all the other variables constant.  Total: change in y when all x’s are changing at the same time. It is denoted as dz/dxi.  Note difference between δ (partial derivative) & d (total derivative)

1

1. Multi Variables Optimisation
1.1 Partial Differentiation
 Examples of partial differentiation Means g is a function of x1,x2,x3. Could • g(x1, x2, x3) = x13 + x22 - 3x3 δg/δx1 = 3x12 δg/δx2 = 2x2 • z = f(x,y) = 5x + δz/δx = 5 + y2 xy2 - 10 δz/δy = 2xy also have written g=f(x1, x2,x3)=…

δg/δx3 = -3

 Application: Production Functions Q = f(K,L) = 60 KL - 3K3 - 2L2 What are the marginal products of labour (MPL) and capital (MPK)? MPK = δQ/δK = 60L - 9K2 MPL = δQ/δL = 60K -4L

1. Multi Variables Optimisation
1.2 Total Differentiation
 The total differential of a function of more than one variable measures the change in the dependent variable (y) brought about by a small change in each of the independent variables (x).  If z = f (x1, x2,……xn) dz = zx1dx1 + zx2dx2 +...+ zxndxn where dx1……dxn are small changes in the independent variables.  Example: Find the total differential of z = x4 + 6xyw + 3y3 - 2w There are three variables here: x, y, w and the total differential will involve partially differentiating with respect to each of these variables: dz = (4x3 + 6yw) dx + (6xw + 9y2) dy + (6xy - 2) dw differential w.r.t.x differential w.r.t.y differential w.r.t.w

1. Multi Variables Optimisation
1.3 Second Order Partial Derivatives
 A second order partial derivative means that a function has been differentiated twice with respect to one of the independent variable while the other variables are held constant.  Consider z = f(x, y) • First order partial derivatives: fx = δz/δx fy = δz/δy • Second order: Function already been differentiated once w.r.t. x fxx = (fx)x =

  z    x  x 
And differentiated a second time w.r.t. x again Function already been differentiated once w.r.t. y

fyy = (fy)y =

  z    y  y   
And differentiated a second time w.r.t. y again

2

1. Multi Variables Optimisation
1.4 Second order Cross Partial Derivatives
 There are also cross partial second order derivatives, i.e., the function is differentiated a second time, but with respect to another independent variable now, while the other variables are held constant. Function already been differentiated once w.r.t. x  fxy = (fx)y =

  z    y  x 
And differentiated a second time w.r.t. y Function already been differentiated once w.r.t. y

 fyx = (fy)x =

  z    x  y   
And differentiated a second time w.r.t. x

1. Multi Variables Optimisation
1.5 Second Order Partial and Cross Derivatives: Examples
 Consider Z = 3x2y3 + 4x3 - 5y2 zx = 6xy3 + 12x2 zy = 9x2y2 – 10y zxx = 6y3 + 24x zyy = 18x2y – 10 zxy = 18xy2 zyx = 18xy2
Function differentiated once w.r.t. x Function differentiated once w.r.t. y Function differentiated a second time w.r.t. x Function differentiated a second time w.r.t. y

Function differentiated a second time w.r.t. y Function differentiated a second time w.r.t. x

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable
 Optimisation of function with more than one variable is similar to that for a single variable.  The First order conditions determine the location of the optimal point(s). They are called the critical or turning points.  All the first order differentials must equal zero simultaneously, that is, fx1, fx2, ..., fxn = 0  The second order conditions determine the nature of that point.  An optimal point may be a maximum, a minimum, a point of inflection or a saddle point.  At the critical points, second order cross partial derivatives are equal, i.e. fxy = fyx (Young’s Theorem)

3

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable..
 Consider z = f(x, y).  Following rules determine the exact nature of a turning point Maximum fx = 0 fy = 0 fxx.fyy > (fxy)2 fxx, fyy < 0 Minimum fx = 0 fy = 0 fxx.fyy > (fxy)2 fxx, fyy > 0 Saddle fx = 0 fy = 0 fxx.fyy < (fxy)2 fxx & fyy have same sign Inflection fx = 0 fy = 0 fxx.fyy < (fxy)2 fxx & fyy have different sign

 Note: if fxx.fyy = (fxy)2 test is inconclusive

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable
 How these turning points look like in a three dimensional space:
Maximum point Minimum point

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable
 Example f(x, y) = x3 - 3x + xy2  First Order Differentials fx = 3x2 - 3 + y2 = 0 …………… (1) fy = 2xy = 0 …………… (2) •From (2), when x = 0, y = 0 •Replace these values in (1): when x = 0  y2 = 3 and y = +3 or -3 when y = 0  x2 = 1 and x = +1 or -1  critical/turning points are: (0, 3); (0, -3); (1, 0); (-1, 0)

4

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable..
 Second order differentials: fxx = 6x fyy = 2x fxy = 2y fyx = 2y  We need to evaluate fxx, fyy, fxy and fyx at each turning point.  At (0, 3) Replace x = 0 and y =3 fxx = 0 fxx.fyy < (fxy)2 0 < 12 fyy = 0 fxx, fyy (same sign) fxy = 23  Saddle Point fyx = 23

1. Multi Variables Optimisation
1.6 Optimisation of More than One Variable
 At (0, -3) fxx = 0 fyy = 0 fxy = fyx = -23  At (1, 0) fxx = 6 fyy = 2 fxy = fyx = 0  At (-1, 0) fxx = -6 fyy = -2 fxy = fyx = 0 fxx.fyy < (fxy)2 0 < 12 fxx, fyy (same sign)  Saddle Point fxx.fyy > (fxy)2 12 > 0 fxx, fyy > 0 (6, 2 > 0)  Minimum Point

fxx.fyy > (fxy)2 12 > 0 fxx, fyy < 0 (-6, -2 < 0)  Maximum Point

1. Multi Variables Optimisation
1.7 Optimisation of More than One Variable - Application
 A firm in a perfectly competitive market sells two goods, QA and QB at a price of £10 and £8 respectively. If total costs are TC = 2QA2 + 2QAQB + QB2, what is the maximum level of profits for the firm? Use the second order conditions to check that it is a maximum.   (profit) = TR - TC TR = p.q = 10QA + 8QB   = 10QA + 8QB - 2QA2 - 2QAQB - QB2  First Order Condition: These are simultaneous equations which A = 10 - 4QA - 2QB = 0 we can solve to obtain values for QA & QB B = 8 - 2QA - 2QB = 0 QA = 1 and QB = 3 Revise your understanding of how to solve simultaneous equations   = 17  Are QA = 1 & QB = 3 turning points?

5

1. Multi Variables Optimisation
1.7 Optimisation of More than One Variable
 We need to check whether this is a maximum point (at this point, profits are supposed to be maximised with these output levels)  Second Order Condition: AA = -4 BB = -2 AB = -2 BA = -2 fxx.fyy = AA.BB = 8 (fxy)2 = (AB)2 = (BA)2 = 4 fxx.fyy > (fxy)2 , i.e. 8>4 AA and BB are negative So we have a maximum point. That is, output levels QA = 1 & QB = 3 give a maximum profit level of £17.

2. Constrained Optimisation I
2.1. Constraints
 Maximising or minimising some variable is often subject to some constraint  Consider maximising a utility function
• U = 2X + 3Y • The amount of good X and Y that will maximise utility is close to infinity • But we cannot buy an infinite amount of X and Y (why?)

 Consider minimising a total cost of production function
• • • • TC = 4X1 + 6 X22 + 7X3 The minimum value will be zero with zero unit of output of each good But this is not feasible because we need to produce an output! So the output level becomes a constraint

 Therefore, most optimisation (minimisation or maximisation) problems are subject to some constraints (budget, output)

2. Constrained Optimisation I
2.1. Constraints
 Consider maximising the following utility function U = f(X, Y) subject to a given budget constraint. Price of X and Y is given as PX and PY and the consumer has an income of M.  Therefore the budget constraint is given as PXX + PYY = M  Graphically, we have:
Y

X

6

2. Constrained Optimisation I
2.1. Constraints
 At equilibrium, the slope of the budget constraint is equal to the slope of the utility function (MU means marginal utility)  So

PX Y   PY X

U U

X Y

 

MU X MU Y

(sign?!)

 So Price ratio = MRS (Marginal Rate of Substitution) or

MU X MU Y  PX PY

 Ratio of MU to Price is the same for all goods

2. Constrained Optimisation I
2.1. Constraints
 Consider minimising the following Total Cost function PXX + PYY Subject to producing w amount of output Q = f(X, Y) = w

Y

Q=w X

2. Constrained Optimisation I
2.2. The Substitution Method
 How do we optimise subject to a constraint?  Use the substitution method  We substitute the constraint in the objective function and then do the maximisation procedure.  Example: Maximise Z=2x2-3xy+2y+10 subject to y –x = 0  Step 1: Rearrange constraint as y in terms of x y=x  Step 2: Substitute y = x in Z  Z = 2x2-3xx+2x+10  Z = 2x2-3x2+2x+10  Z = -x2+2x+10 This is what we seek to optimise now

7

2. Constrained Optimisation I
2.2. The Substitution Method
 Step 3: Optimise Z in the conventional way Z = -x2+2x+10

dz  2 x  2  0 dx
Thus, x = 1

 When x = 1, y = 1 

d 2z  2 so turning point (1,1) is a maximum point dx 2

2. Constrained Optimisation I
2.3. The Substitution Method: Application 1
A firm faces a production function Q= 4LK + L2 and buys the inputs K and L at prices per unit of \$1 and \$2, respectively. If it has a budget of \$105, what combination of K and L should it use in order to produce the maximum possible output? Also, verify that the ratio of Marginal product to price is the same for both factors.  Step 1: rewrite the constraint in a form for substitution 1K + 2L = 105  K = 105-2L Step 2: Substitute the constraint into the production function Q= 4L(105-2L) + L2 Q= 420L – 7L2

2. Constrained Optimisation I
2.3. The Substitution Method: Application 1
• Step 3: Optimisation of Q= 420L – 7L2

dQ  42014L  0 dL
• Therefore L = 30, and replacing L = 30 in the constraint, we can solve for K K = 105-2(30) = 45 • (30, 45) is a turning point • We check for second order condition

d 2Q  14  0 dL2
• Thus point (30, 45) is a maximum point • Replace L = 30 and K = 45 in objective function to get maximum output. • Maximum Output is hence Q= 4(30)(45) + (30)2 = 6300

8

2. Constrained Optimisation I
2.3. The Substitution Method: Application 1
 MPL = δQ/δL = 4K + 2L • MPK = δQ/δK = 4L • At equilibrium:
MPL MPK  PL PK MPL 4 K  2 L 4(45)  2(30)    120 PL 2 2 MPK 4 L 4(30)    120 PK 1 1

• Thus, the ratio of Marginal Product to price is the same for both factors

2. Constrained Optimisation I
2.4. The Substitution Method: Application 2
A firm faces a Cobb Douglas production function Q= 2K1/2L1/2 and can buy the inputs K and L at prices per unit of \$4 and \$3, respectively. What is the cheapest way of producing 160 units of output? • Here the aim is to minimise total cost subject to producing an output of 160. The objective function is therefore the total cost function and the constraint is the production function. So we have: Minimise TC = 4K + 3L Subject to 2K1/2L1/2 =160 • Step 1: Rewrite the constraint 2K1/2L1/2 =160  L = 6400/K • Step 2: Substitution TC = 4K + 3(6400/K)  TC = 4K + 19200/K

2. Constrained Optimisation I
2.4. The Substitution Method: Application 2
• Step 3: Optimisation of TC = 4K + 19200/K

dTC 19200  4 0 dK K2
• Solving for K and L, we get K = 69.28 and L = 92.38 • Therefore (69.28, 92.38) is a turning point • Check for second order conditions:

d 2TC 38400  0 dK 2 K3

Note: we replace these values in the original cost function, i.e. TC=4K+3L

• So it is a minimum point. • Replacing these values in the TC function, the minimum cost of producing 160 units of output is given as \$554.26

9

3. Constrained Optimisation II
3.1. The Lagrangian Multiplier (LM) Approach
 Substitution Method has certain disadvantages
• Becomes more complicated when deal with more than 2 variables • Does not provide additional information from maximisation/minimisation process

 Lagrange Multiplier Approach overcomes these problems, and hence:
• Makes it easier to deal with more than 2 variables • Enables us to obtain additional information from the maximisation/minimisation process, namely the Langrage multiplier ()

3. Constrained Optimisation II
3.1. The Lagrangian Multiplier (LM) Approach
 If we want to optimise an objective function, f(x1...xn) subject to a constraint, g(x1...xn) = M, the LM approach proceeds as follows:  Step 1: Define the Lagrangian function • L(x1..xn, ) = f(x1....xn) + [M - g(x1...xn)] where  is known as the Lagrange multiplier.  Step 2: Find the partial derivatives, Lx1,...Lxn, L • Set partial derivatives equal to zero and solve for x1...xn and .  Step 3: Check for second order conditions  The Lagrange Multiplier () can be thought of as the effect on the objective function of a unit change in the constraint (marginal effect)

3. Constrained Optimisation II
3.2. The Lagrange Multiplier Approach: Example
 Optimise f(x, y) = x2 - 3xy + 12x subject to 2x + 3y = 6  Step 1: Set up the Lagrangian function L = x2 - 3xy + 12x + (6 - 2x - 3y)  Step 2: Find the partial derivatives Lx = 2x - 3y + 12 - 2= 0 ……. (1) Ly = -3x -3 = 0 ……. (2) L = 6 - 2x -3y = 0 ……. (3)  From (2):  = -x  Substituting (4) into (1): 2x -3y + 12 + 2x = 0 3y = 4x + 12 ……. (4)

……. (5)

10

3. Constrained Optimisation II
3.2. The Lagrange Multiplier Approach: Example
 Substituting (5) into (3): 6 - 2x - 4x -12 = 0 -6x = 6 x = -1 ……. (6)  Substituting (6) into (5): y = 8/3  Substituting (6) into (4): =1   = 1 implies that a unit change in the constraint will increase the objective function by 1.

3. Constrained Optimisation II
3.3. The Lagrange Multiplier Approach: Application
 Suppose a utility function is given by: U = 40x0.25y0.5 with prices of x and y as px = 4, py = 10 and income M = 60 What level of x and y will maximise utility? What is the meaning of the Lagrange multiplier in this case?  Budget contraint: 4x + 10Y = 60  Lagrange Function: L = 40x0.25y0.5 + (60 - 4x - 10y)  First Order Conditions Lx = 10x-0.75 y0.5 - 4 = 0  2.5x-0.75 y0.5 =  Ly = 20x0.25y-0.5 - 10 = 0  2x0.25y-0.5 =  L = 60 - 4x - 10y = 0 ….

… (1) … (2) (3)

3. Constrained Optimisation II
3.3. The Lagrangian Multiplier Approach: Application
 Equating (1) and (2) 2.5x-0.75 y0.5 = 2x0.25y-0.5 4x = 5y …… (4)  Substituting (4) into (3): 60 - 5y - 10y = 0 60 = 15y y=4  From (4) x=5  From (1) or (2)  = 1.495  1.5

11

3. Constrained Optimisation II
3.3. The Lagrangian Multiplier Approach: Application
What is the meaning of ? If we relax the budget constraint by a small amount, utility will increase by  times that amount. So if we give the consumer an extra £1 income, utility will go up by about 1.5 units. It is also called the marginal utility of income.  Note that we could have set up the Lagrangean function as follows: L = 40x0.25y0.5 + (4x + 10y - 60)  We would still get same answer for x and y, but  = -1.5  The interpretation of  is not appropriate (the consumer’s total satisfaction should increase, and not decrease if you give him more income!)  Therefore, should be careful when defining the Lagrangian function!

4. Exercises
 Exercise 1
The total cost (TC) & total revenue (TR) functions for a company are as follows: TC = 2q2 +2a.q + 2a2 TR = 18q + 12a + a.q where q is the quantity of output and a is the expenditure on advertising. (i) Write down the profit function for this firm. (ii) Find the profit maximising levels of output and advertising. (iii) Find the maximum level of profits

4. Exercises
 Exercise 2
The output function of a firm is given by Q = 120L + 200K – L2 – 2K2 where L = quantity of labour and K = quantity of capital. Unit labour cost is £5 and unit capital cost is £8. (i) Use the Lagrangian method to find the maximum level of output the firm can produce with a budget of £130. (ii) Explain the meaning of the Lagrangian multiplier in this example.

12

4. Exercises
 Exercise 3
A consumer has the following utility function over two goods, X and Y: U = 20 X0.5Y0.5 (i) If the price of X is 20, the price of Y is 5 and the consumer’s income is 300, find the maximum value of utility that the consumer can achieve. (ii) Calculate the value of the Lagrangian multiplier and explain its meaning.

13

### Similar Documents

Free Essay

#### Research Methods

...Evidence Based Practice. Research Methods. Evidence-Based Practice (EBP), the skill of using correct research methods, the importance of making informative decisions based on the best EBP within the health care industry as well as an example of EBP in regards to infection control and hand washing procedures will be key issues discussed throughout this essay. The health profession is continually developing and adapting in its implementation to health care techniques and skills due to changing world health conditions. It is therefore imperative that research be constantly conducted to analyse new research relating to health care to ensure health care practitioners are using techniques derived from the most current evidence (Aveyard & Sharpe, 2009). Evidence Based Practice can be defined as, “the conscientious, explicit and judicious use of current best evidence in making decisions about the health care of patients” (Sackett, Richardson, Rosenberg, & Haynes, as cited in Craig & Smyth 2007). The basis of EBP is that decisions are made by assessing not only the information at hand, but also integrating clinical experience, the most current evidence available, critical thinking and keeping in mind the patient’s best interest and preferences (Aveyard & Sharpe, 2009). Evidence based practice was developed because of the commitment of health care practitioners to social research and science (Mullen, as cited in......

Words: 1421 - Pages: 6

#### Research Methods

... she devises the situation and how individuals look at each other is social psychology. According to Allport, (1985), “Social psychology is the discipline which uses scientific methods to explain the behavior of individuals, their thoughts and feeling, also how behavior influences individuals by the actual or imaginative presence of others”. When it comes to thinking, It’s about the judgment the person makes about something , what he believes and perceives about something. When it comes to influence it means how the person influences the group of people, Persuades others and culture. Lastly social relations include aggression, helping and prejudice. Social psychology when compared to sociology consist of studying of people in groups and societies whereas social psychology consist of study of people and includes experiments. Apart from this when compared to personality psychology, Social psychology lays less emphasis on individual difference and more on individuals as to how they view and effect one another. This field uses three major fields of research which are experimental, correlational and survey research. In this each field relates to individuals and there aspects of life. Social Psychology and Other Discipline Social psychology is often compared to other discipline by ......

Words: 910 - Pages: 4

#### Research Methods

...Psychological Factors Heather Mingee Research Methods Week 10 Assignment 2 Instructor Joseph Davis Psychological Factors The scientific method is an organized way of figuring something out and normally includes six parts (Galgas, 2014). The first step is to state my purpose. For example, for this assignment, my purpose would be to examine the psychological factors affecting how teenagers in an impoverished urban area spend their time outside of school. Second is my research. For my assignment, I would find out as much information on the area as possible. For example, I would talk to teachers to see what kind of after school programs are available and I would talk to the community to find out what kind of community programs are offered for the children. Third, after I do my research, I would develop a hypothesis. My hypothesis would be that since there are not many programs available to the children and they have a lot of free time, they tend to get in more legal trouble. The fourth step is to conduct my experiment. I would develop a questionnaire for the students on how they spend their free time outside of school. I would also develop a questionnaire for the teachers on new programs that they would like to see implemented. Fifth, I would analyze how having too much free time can have a negative impact on psychological effects. Sixth, I would conclude my research by checking to see if my hypothesis was correct. Using a questionnaire can cause errors because students......

Words: 1038 - Pages: 5

#### Research Method

...the probability of their return to the same hotel (Choi & Chu, 2001). Hotels are increasing their investments to improve service quality and the perceived value for guests so as to achieve better customer satisfaction and loyalty, thus resulting in better relationships with each customer (Jones et al., 2007). Relationship quality has a remarkable positive effect on hotel guests’ behavior, it creates positive word of mouth (WOM) and increments repeated guest rates (Kim et al., 2001). In the other hands, to obtain loyalty and to outweigh other competitors, hotel providers must be able to obtain high levels of customer satisfaction for the service supplied. There are several studies that analyze the needs and the desires of tourists. A research by Wuest et al. (1996) defined the perception of hotel attributes as the degree to which guests may find various services and facilities critical for their stay in a hotel. Hotel's attributes such as cleanliness, price, location, security, personal service, physical attractiveness, opportunities for relaxation, standard of services, appealing image, and reputation are recognized as decisive by travelers to assess the quality of the hotel (Atkinsons, 1988; Ananth et al., 1992; Barsky & Labagh, 1992; Cadotte & Turgeon, 1988; Knutson, 1988; McCleary et al., 1993; Rivers et al., 1991; Wilensky & Buttle, 1988). Swithcing costs can be defined as the costs involved in changing from one service provider to another (Porter 1980).......

Words: 5408 - Pages: 22

#### Research Methods

...Research Method One 7th July, 2016 Accra, Ghana How do you choose a good research topic? Give 5 examples of a good research topic and justify your choices, i.e. problem issues in each topic and why they must be researched upon. (Not less than 2000 words). 1. Research defined The Oxford English Dictionary, 2002, defines research as ‘the systematic study of materials and sources in order to establish facts and reach new conclusions’. According to Zina O’Leary, 2004, a research is a process that needs to be actively managed. The main aim of research is to find out the truth which is hidden and has not yet been discovered. Research is therefore undertaken to gain familiarity with new insights into a phenomenon (i.e., formative research studies); to accurately portray the characteristics of a particular individual, group, or a situation (i.e., descriptive research studies); to analyse the frequency with which something occurs (i.e., diagnostic research studies); and to examine the hypothesis of a causal relationship between two variables (i.e., hypothesis-testing research studies). 1.2 Research topic defined According to Laura Morrison, 2014, a research topic is an idea or theory that is expressed as a statement, a contention for which evidence is gathered and discussed logically. One of the most important concerns in choosing a thesis topic is that the topic speaks to an area of current or future demand. A research topic should......

Words: 3279 - Pages: 14

Free Essay

#### Research Methods

Words: 554 - Pages: 3

#### Research Methods

...Essay 1 – Research methods and Methodological Perspectives Different philosophical foundation create a division in social research methods into two key approaches namely qualitative method which is associated with interprevitism and quantitative methods which is associated with positivism. The main difference between these methodological approaches is that qualitative research is about the expression of meaning. Bowling 2002 defines qualitative research as a “method of naturalistic enquiry which is usually less obtrusive than quantitative investigations and does not manipulate a research setting.”(Bowling 2002). It is as a result of this naturalistic enquiry that feelings or expressions are derived in relation to a particular issue. This process of expressing feelings or thoughts is also known as Phenomenology. Bowling 2002 quoting Smart 1976 states that phenomenology is “based on the paradigm that reality is multiple and socially constructed through the interaction of individuals who use symbols to interpret each other and assign meanings to perceptions and experience; these are not imposed by external forces”. (Bowling 2002). Through the phenomology process research is interactive with the respondent and researcher and is performed through open-ended, unstructured or participant observation and in-depth interviews. The data is collected through a mutual understanding between the researcher and the respondent. Hence the phenomenology process is commonly called the......

Words: 667 - Pages: 3

#### Research Method

...RESEARCH METHOD This study utilized the descriptive method of research. As widely accepted, the descriptive method of research is a fact-finding study that involves adequate and accurate interpretation of findings. Descriptive research describes a certain present condition. Relatively, the method is appropriate to this study since it aims to describe the present condition of technical analysis as it is used in the stock market. The technique that was used under descriptive method is the normative survey approach and evaluation, which is commonly used to explore opinions according to respondents that can represent a whole population. The survey is appropriate in this study because it enables the researcher in formulation of generalizations. The purpose of employing the descriptive method is to describe the nature of a condition, as it takes place during the time of the study and to explore the cause or causes of a particular condition. The researcher opted to use this kind of research considering the desire to acquire first hand data from the respondents so as to formulate rational and sound conclusions and recommendations for the study. According to Creswell (1994), the descriptive method of research is to gather information about the present existing condition.  Since this study is focused on the perception or evaluation of the consultancy firm's effective human resource management, the descriptive method is the most appropriate method to use. Two types of data were used:......

Words: 356 - Pages: 2

#### Research Methods

...Research Methods and Terminology Candy Burtle CJA/334 Philip Russo March 13, 2014 Introduction An effective research method in the criminal justice system is essential and using these methods gives the ability to successfully open and close cases. People who work in criminal justice system have a wide selection of research methods and tools at their disposal. Throughout this paper we will discuss various research methods that are used within the criminal justice system as well as the terminology associated with the research. We will discuss the importance of knowing the proper terminology for research in the criminal justice system and how not knowing the proper terminology affects you as you conduct criminal justice research. We will also look at the benefits of knowing the terminology when evaluating and analyzing research. Research Process In order to properly grasp the importance of research and the terminology within the criminal justice system we must first ask, what is research? Research is the systematic investigation into the study of materials and sources to establish facts and reach new conclusions (Press, 2010). The process of research can vary significantly, but there are five steps generally followed when conducting research. Formulation is the first step and this is when the selection and specification of an area to be investigated. The second step in the research process is research design......

Words: 1117 - Pages: 5

#### Research Method

...Research Method Hypothesis and Theory Hypotheses can be developed and tested to recognize the relationships between categories. Silverman (1991:1) defined hypothesis as a ‘testable proposition’. The appearance of an apparent relationship or connection between categories will need to be tested in order to find out whether there is an actual relationship (Saunders, 1997:344). The importance of hypothesis is that it will bring a specific direction and focus to a research study. The theory on the other hand, is usually drawn from the hypothesis. Theories are usually generated from attempts at explaining observations and thus prediction or expectations can be made (Gill, 1991:25). Deduction and Induction There are two methods of establishing what is true or false and of drawing conclusion. These two methods are deduction and induction. Induction is made by empirical evidence based, while deduction is logic based. Through induction, a general conclusion can be made from empirical observation. It goes by the process of assumption to conclusion (Ghauri, 1995:8). From deduction, conclusions are draw through logical reasoning and it is not necessary to be reality. When an observation is made to generate a theory with consistent facts, it is called induction, on the contrary deduction involves the gathering of facts to confirm or disprove hypothesized relationships among variables that have been deduced from proposition or earlier theories (Ghauri, 1995:9). Research method and......

Words: 2557 - Pages: 11

#### Research Methods

...Research Methods Jessica February 2012 What is the difference between direct and indirect observational methods of research? Direct observation is when researchers observe the behavior while it is occurring. Indirect (unobtrusive) observation is when researchers examine physical traces and archival records. (Zechmeister, Zechmeister, & Shaughnessy 2001) Direct observation of behavior can be seen in simply psychology: question and answer, as well as simple observation of a person’s daily activities. The researcher can choose to change the atmosphere, or change the study to intervene and observe the changes, while indirect observations main goal is to be unseen and non-influential on the behavior that is being observed as to take down all natural information. My friend attempted to use direct observation in this study. He went out and observed people’s behavior while intervening with his own behavior in hopes to prove his hypothesis. There is so much wrong with his way of thinking in this study. The first problem is his observational bias as he is not only observing others and the conversation but also himself. There is no scientific way to observe yourself without having some bias in opinion. Beyond that, he uses behavioral sampling, and cannot come to a precise conclusion based soley on his words and the reactions of the people he is in conversation with. There are many factors to consider. Where are the people coming from, where are they going? Are they having a......

Words: 787 - Pages: 4

Free Essay

#### Research Method

...Measurement and Survey Research Measurement and Survey Research Syed S. Hossain Institute of Statistical Research and Training University of Dhaka, Bangladesh Syed S. Hossain Institute of Statistical Research and Training University of Dhaka, Bangladesh Measurement and Survey Research Measurement and Survey Research Fundamental ideas construct validity (the degree inference can made from study to theory) Reliability (the quality of measurement) random and systematic error, Reliability and validity related Scales of measurements Nominal Ordinal Interval Ratio Syed S. Hossain Institute of Statistical Research and Training University of Dhaka, Bangladesh Measurement and Survey Research Arithmetic strength of scales of measurements Levels Nominal Ordinal Interval Arithmetic Counting Counting Ranking Counting Ranking Addition/Subtraction Counting Ranking Addition/Subtraction Multiplication/Division Features Categories Categories Ranks Categories Ranks Has equal units Categories Ranks Has equal units Has absolute zero Examples Religion Economic class IQ score Ratio Weight Syed S. Hossain Institute of Statistical Research and Training University of Dhaka, Bangladesh Measurement and Survey Research Information strength of Scales of measurements Syed S. Hossain Institute of Statistical Research and Training University of Dhaka, Bangladesh Measurement and Survey Research Types of Survey research Types Questionnaire mail......

Words: 1421 - Pages: 6

#### Research Methods.

...Submission Form |Name: |Vigneshwaran Palanisamy | |Email: |1118562@rgu.ac.uk | |Course: |Msc Purchasing & Supply Chain Management | |Module: |BSM577 - Research Methods | |Assignment and Title: |Implementing E-procurement in Indian organisation : surveys of SMEs | |Date: |7/1/13 | |For the attention of: |Dr Elizabeth Tait | WORD COUNT: ABSTRACT: This report was undertaken for the commitment of future research in dissertation. E-commerce is gaining a lot more attention in current global market. E-commerce models such as B2B, B2C, B2E and B2G has been successful due to many implementation and adoption of standardized process tools like EDI, shipping, tracking, payment and delivery among the suppliers around the globe through a strong supply network. The most vital element of B2B model is the E-procurement. E-procurement is the process for acquiring......

Words: 4257 - Pages: 18

#### Research Method

...PORTFOLIO 1. What is research and what is a research carried out for? Find a research report in an applied linguistics journal (such as TESOL Quarterly, Language Learning) and point out the objectives and how these objectives are achieved. a. What is research? Research has been defined in a number of different ways. A broad definition of research is given by Martyn Shuttleworth - "In the broadest sense of the word, the definition of research includes any gathering of data, information and facts for the advancement of knowledge." Another definition of research is given by Creswell who states that - "Research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue". It consists of three steps: Pose a question, collect data to answer the question, and present an answer to the question. The Merriam-Webster Online Dictionary defines research in more detail as "a studious inquiry or examination; especially  : investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light of new facts, or practical application of such new or revised theories or laws" Scientific research is a systematic way of gathering data, a harnessing of curiosity. This research provides scientific information and theories for the explanation of the natureand the properties of the world. It makes practical applications possible. Scientific research is......

Words: 2238 - Pages: 9