Thursday, December 5, 2019
Business Research Proposal Operations Research
Question: Describe about the Business Research Proposal for Operations Research. Answer: Introduction It has been empirically observed that the customers who purchased products from shopping mall spent lesser time as compared to stores or markets. It is also observed that customers conserve their precious time by using the shopping mall. Customers can purchase all type of respective goods at one single place with high quality and various schemes. Organised arrangement of the products attracts the customers towards the mall. For the sustainable status of the mall, customers are very essential component. Thus, their different nature and their expenditure have been examined in this research proposal. Business Research Topic The management team of the mall decides to analyse nature of the customers with respect to the purchase and expense of the products or services. Hence, the management department orchestrates a research study in order to determine the various facts related to the purchasing of goods in the mall. Another aspect to conduct this research study is to analyse the different claim of the customers related to the product or service in a specified time period. Therefore, the topic of research proposal is selected the analysis of the customers visiting shopping mall. (Bryman and Bell, 2015). Basic Research Questions The major objective for the research study is to determine the answer of various questions that arises in the process of expenditure by the customer in the mall. These research questions are mentioned below: What is the average age of the customers visiting the mall in a specified time period? What is the marital status of the customers visiting the mall and in what proportion? What is the net fraction of the customer visiting the mall based on the gender? What is the method used by the customer for payment? What type of payment method is more suitable for malls? What is the average sale by the customer in the mall within specified time period? Research Methodology and Process Selection of the appropriate methodology is considered an imperative step for the research study. The initial step in the methodology is to collect the necessary data with the help of specific sampling method. Random sampling method is suitable for the current research study, because it provides set of data from various customers from different sources in the mall and also it covers all type of customers based on age, gender, culture and status etc. (Hillier, 2006). Literature review in which the researchers can also examine the conceptual framework or findings of previous research outcomes for this study which can provide useful information to the researcher for conducting the researcher (Zikmund et. al., 2012). The collected data is then examined by the researcher by using suitable statistical tools or techniques Any null assumption in the research study must be specified by the researcher The researcher has selected the inferential and descriptive statistical method for this research study. Collection of Data and Analysis Procedure Following measures have been taken for this research study Variable selected Type of the customer /gender/age/marital status State of the customer Number of purchased goods Mode of payment Net sales in dollars $ Scale selected There are two main scales selected for this research study Nominal scale Ratio scale Size of sample Suitable size for the sampling method is imperative to collect reliable data which represents the population. The sample size is 200 for this study. The data collected from various customers is to be analysed with descriptive statistical method, which provides a detailed sets of element to express statistical representation on the nature of the spending of the customer in the shopping mall (Swarup, Gupta and Mohan, 2010). Analysis of the collected data Two basic types of the statistical methods have been adopted for the analysis of the collected data. These methods are inferential statistics method and descriptive statistical method, to determine the purchase of the products in the shopping mall (Hastie, Tibshirani and Friedman, 2001). Descriptive statistics method. The researchers will examine the collected data and expressed in terms of the average age, state of the customers, fraction of the purchasing goods based on the gender of the customer, the average spending of the customer, mode of the payment in the shopping mall. This descriptive statistics will help the researchers to determine minimum standard deviation and maximum standard deviation (Eriksson and Kovalainen, 2015). Inferential statistical method Several statistical tools and tests would be operated in this research study, in order to find the various claims and the expenditure made by the customer in the shopping mall. In this scenario, one sample t test, two sample t test and z test is selected for the study (Lieberman et. al., 2011). Various graphs, tables and charts have been drawled in the MS excel in order to form a quick view on the collected data and final results. Also, regression analysis has been taken into consideration to interpret the data. If required a correlation coefficient would also be deployed in the analysis (Swarup, Gupta and Mohan, 2010). Research Outcomes The final expected research conclusion can be expressed below, which can able to answer the research questions. Average net sale of the mall as per different customer profile Minimum net sale Maximum net sale Mode of the payment used for transaction Fraction of the different mode of the payment Proportion of the visiting customer based on the gender Marital status of the customer and find the relative proportion Average age of the customer visiting in the mall Distribution of the visited customer based on their residential status. References Bryman, A and Bell, E. (2015).Business research methods, New York: Oxford University Press, Eriksson, P. and Kovalainen, A. (2015),Qualitative methods in business research, London: Sage. Hastie, T., Tibshirani, R. And Friedman, J. (2001), The Elements of Statistical Learning, New York: Springer Publications Hillier, F. (2006), Introduction to Operations Research, New York: McGraw Hill Publications, Lieberman, F.J., Nag, B., Hiller, F.S. and Basu, P. (2011), Introduction To Operations Research, New Delhi: Tata McGraw Hill Publishers Swarup, K., Gupta, P.K. and Mohan, M. (2010), Operations Research, New Delhi: Sultan Chand Sons Zikmund, W., Babin, B., Carr, J., and Griffin, M. (2012),Business research methods, New York: Cengage Learning.
Posted by Nathan Shook at 8:02 AM