2) Advanced Measurement and Statistics for Business Appraise what new statistical methods are used...

Question

2) Advanced Measurement and Statistics for Business

Appraise what new statistical methods are used in the evaluation of conceptual theories outlining specific advantages these methods provide. Compare Structural Equation Modeling (SEM) techniques providing advantages of using SEM to other conventional methods outlining some of the various statistical techniques that SEM is able to perform. Evaluate sampling techniques used to conduct hypothetical studies and asses the benefits of each sampling method based on best fit to application. Critique validity and reliability methods for appropriate constructs and compare advantages and disadvantages of each method describing what methods to use with different operational techniques. Compare and evaluate factor analysis for confirmatory versus exploratory methods and assess when each is appropriate proving examples and application usages. Assess the differences of various regression analysis methods and demonstrate by examples what regression methods are most appropriate for different application. Finally discuss and recommend best statistical techniques and methods to operationally use for means comparisons, non parametric evaluation, bivariate correlation, ANOVAs, Chi Square, regression, and other techniques as appropriate. Assess the overall concept of statistical power, why it has import to statistical evaluations, and what SPSS contributes to statistical analysis in today’s research.

Your answer content must provide a theoretical basis, review of tools, techniques, methods, and procedures covering relevant applications, examples, and inclusions of critical thinking as appropriate. Your answer must demonstrate a complete knowledge of the subject and provide both factual significance and meaningful application of the concepts of the question topic. Requisites include graduate level content with cited references in APA compliant style.

Kshitij · Accepted Answer

BUSINESS STATISTICS
1
BUSINESS STATISTICS
 
ADVANCED MEASUREMENT AND STATISTICS FOR BUSINESS
Statistical Methods For Conceptual Theories
The conceptual framework contains two forms of statistics; qualitative and quantitative, hence two categories of variables also. Qualitative variables; both nominal and ordinal; aren’t usually known as distributed ones. Statistical methods for their evaluation are following; 
· Student t-test
· ANOVA 
· Post-hoc Test
· Two-Way ANOVA
· Three-Way ANOVA 
· Chi-Square test
Advantages of These Methods:
· Student t-test now can compare two populations mean, so the ultimate advantage is that the data of this test can both; paired or unpaired. 
· ANOVA can compare the means of normally distributed more than three independent populations. If more than two populations from the same subject are under observation, then the repeated measures ANOVA can be used to compare those populations. 
· Post-hoc tests give us the advantage of pairwise comparisons (Pitchai Balakumar, 2012). 
· If two or three independent factors need to be analyzed in an experiment, then the Two or Three-way ANOVA test is beneficial over other methods.
· The chi-square test supports the evaluation of categorical nominal variables that are unmatched.
Structural equation model (SEM) and comparison with another conventional method.
It is the multivariate technique, which is used to analyze the data in statistics, and this technique analyzes the structural relationship. The structural equation modeling technique is an efficient technique as compared to other techniques due to the combination of multiple regression analysis and factor analysis. The conventional techniques which use to analyze the structural data are not easy as compare to SEM because this method is used to measure the variables and latent constructs. The structural modeling technique estimates the numerous data set and interrelate dependence in a single analysis due to which this method is more preferred by researchers. The techniques which able to perform SEM are the measure model, structural model, multivariate normal distribution, linearity, and model identification. This model can implement recursively and non-recursively and it also reveals the cause and effect towards the relationships. In structural equation modeling, the constructs are attached to the other constructs (Gohar F. Khan, 2019). The data should independent of outliers because these affect the significance of the model however, in other methods, mostly the outliers are dependent. In this method, the researchers take the sample size two hundred to four hundred and fourteen to fifteen indicators are used.
Sampling technique to conduct the hypothetical studies and benefit of sampling methods
There are many sampling techniques used to conduct hypothetical studies including probability sampling methods and non-probability. The probability sampling gets the complete frame including all individuals sample and evaluates the data. In a hypothetical study, this technique has the ability to choose the selective sample for the complete data. This technique is time consuming, costly, then the other sampling technique. In non-probability sampling, there is no need to start the complete frame. The major drawback of this technique is that the effect of sampling cannot be estimated (Sean P. Lane, 2017). This method is cheaper and more convenient for hypothesis generation. In the probability method,

2) Advanced Measurement and Statistics for Business Appraise what new statistical methods are used in the evaluation of conceptual theories outlining specific advantages these methods provide....

Answer To: 2) Advanced Measurement and Statistics for Business Appraise what new statistical methods are used...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment