Trusted by millions of Kenyans
LoginRegister
Study resources on Kenyaplex

Get ready-made curriculum aligned revision materials

Exam papers, notes, holiday assignments and topical questions – all aligned to the Kenyan curriculum.

Browse exam papers
Or go directly to:
Class notes Holiday assignments Topical questions Other resources

Write brief notes on different types of data analysis pointing out the significance of each.

Write brief notes on different types of data analysis pointing out the significance of each.

Answers

johnson
a)Qualitative
Techniques are subjective, based on the opinion and judgment of consumers, experts and are appropriate when past data are not available.
Usually applied to intermediate- or long-range decisions.
significances include;
•provides descriptions and explanations that demonstrate the chronological flow of events often leading to findings
•Logical flow give data meaning and how they connect to the new concept providing the basis for description
-Grounded Theory
-Ethnography
-Phenomenology
•Strauss & Corbin (1998) portend that some researchers believe that data should not be analysed but presented as it is to avoid subjective interpretations
Examples
•informed opinion and judgment,
•the Delphi method,
•market research, and
•historical life-cycle analogy

b)Quantitative
vThese forecasting models are used to forecast future data as a function of past data.
vAre appropriate to use when past numerical data is available and when it is reasonable to assume that some of the patterns in the data are expected to continue into the future.
vUsually applied to short- or intermediate-range decisions.

Examples
•last period demand,
•simple and weighted
•N-Period moving averages,
•simple exponential smoothing,
•Poisson process model based forecasting and
•Multiplicative seasonal indexes.
johnson mwenjera answered the question on December 13, 2017 at 10:09

Answer Attachments

Next: Explain the need for literature review in a research work.

Previous: Research problem may be defined as an intellectual challenge or a question of interest which can be answered through collection, analysis and interpretation of data....

View more Business Studies Questions and Answers  |  Return to Questions Index

Exams With Marking Schemes

Related Questions