Probability and Statistics for Engineers and Scientists

Business Research Topic

There is a very significant role of advertisements in the profit of any business. A different type of media is used for advertisements. Due to tough competition in the market, each business industry uses the effective advertisements for attracting more customers and increasing their profit. Each business industry uses the different types of media for showing their advertisements such as television, radio, internet, social media Facebook, Google, etc. The effect of types of media is different for the advertisement and business profit. The targeted population is important while using a type of media used for showing advertisement. Suppose, if targeted population is the middle class persons, then it is important to use the media such as television and social media. Suppose, targeted population is the persons in the remote area, then it is important to use the media such as newspaper, radio, etc. This means, the nature of the targeted population is very important while launching the new advertisement. So, we would study the effect of the advertisements on the business industry in detail. We will study the comparisons between the effects of advertisements by using the different media. We will check some claims and hypothesis regarding the effect of advertisements on the business industry. Let us see this research proposal in detail explained in next topics.

Research Question

The most common fact for any business research study is nothing but to develop the research questions or hypothesis for research study (Babbie, 2009). For this business research study, the research questions would be given as below:

Is there any significant difference in the profit of business industry by using the advertisement and without using advertisement?

Are there any significant differences in the profit of a business by using the different media for advertisement?

We would find out which media is more effective for advertisements and we would also find out if the nature of business is related with the type of media used. Also, we would study the effect of the advertisements on the persons belonging to different socio-economic classes.

Research Methodology and Technique

It is very important to use the proper research methodology and research technique for any research study (Evans, 2004). If we do not use the proper technique and methodology then there is a chance of getting biased results. All assumptions should be followed during using different research methods and techniques. For this business research study, we would use the observational study and collect data for the effect of advertisements on the business industry. We would use the authorized sources for the process of data collection. The reference frame for this research study would be all business industry in the Australia. We would select the sample of some business industries by using proper method of random sampling. We would use the different techniques for the process of data analysis by using the statistical tests of hypothesis. We would use the descriptive statistics and inferential statistics for the study of effect of advertisements on the profit of business industries. We would check all the assumptions related to the normality and homogeneity (Pearl, 2000). We would use the proper research process for getting the unbiased results or estimates for the research study.

Research Process

In this topic, we would discuss the overall research process for the study of effect of the advertisements on the business profit. We would use the proper research process for checking the hypothesis or claim whether there is any significant difference in the profit of business industry by using the advertisement and without advertisements (Ross, 2014). First of all we would decide the research questions or the hypothesis or claims for this research study of effect of advertisements on the profit of business industry. After developing the research questions we would collect the data related to the study of effect of advertisements on the profit of business industry. We would use authorized sources for data collection for effect of advertisements on the profit of business industry. After collection of data we would use the descriptive statistics and inferential statistics for the purpose of data analysis. We would use the descriptive statistics for getting general idea about the effect of advertisements. We would use the different types of hypothesis tests for checking the different research questions or hypothesis develop for this research study (Cox and Hinkley, 2000). We would take the decision regarding the claims after the results of the tests.

Data Collection

The process of data collection is very important in the research study (Todd, 2007). For this research study we would collect the data from the different business industries by using the proper methods. We would use authorized sources for the purpose of data collection. We would use the internet search for the budget of different companies. We will take proper care while collecting the data to avoid the biased results or estimates. We would use the data for all types of companies and we will make the efforts for getting homogeneous sample for the study of effect of advertisements. The random sample should be a proper representative for the population under study.

Data Analysis

The data analysis for the collected data is very important for getting the results for the research study. We would use the different methods and techniques for the statistical data analysis for checking different claims or hypothesis. It is very important to use the proper tests of hypothesis for checking different claims (Casella and Berger, 2002). At the beginning of data analysis we would find out the descriptive statistics for understanding the nature of the data. Descriptive statistics gives the general idea regarding the different variables under study (Dobson, 2001). For checking the hypothesis whether there is any significant difference in the profit of business industry by using and without using advertisements, we would use two sample t test for the population means. For checking the significant differences in the average profit due to use of different media we would use one way analysis of variance or ANOVA test (Degroot and Schervish, 2002). After using these tests, we would take the decisions regarding the null hypothesis based on the p-values and alpha values or level of significance decided for the particular test.

Expected Research Outcome

For this research study, we would expect the following research outcomes:

We would expect that there would be a significant difference in the profit of business industry by using the advertisement and without using advertisement.

We would expect significant differences in the profit of a business by using the different media for advertisement.

Reference List

Babbie, E, R, 2009, The Practice of Social Research, Wadsworth.

Casella, G, and Berger, R, L, 2002, Statistical Inference, Duxbury Press.

Cox, D, R, and Hinkley, D, V, 2000, Theoretical Statistics, Chapman and Hall Ltd.

Degroot, M, and Schervish, M, 2002, Probability and Statistics, Addison – Wesley.

Dobson, A, J, 2001, An introduction to generalized linear models, Chapman and Hall Ltd.

Evans, M, 2004, Probability and Statistics: The Science of Uncertainty, Freeman and Company.

Pearl, J, 2000, Casuality: models, reasoning, and inference, Cambridge University Press.

Ross, S, 2014, Introduction to Probability and Statistics for Engineers and Scientists, London, Academic Press.

Todd, G, 2007, Descriptive Statistics. Topics in Biostatistics, New York, Springer.

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