for this paper, they are 3 main questions to respond to, it is critical for the writer to clearly respond to this 2 main questions using scholarly sources to support the points and properly citing all work in APA format. Questions should be thoroughly responded.
Information Systems Development
once an organization makes the decision to implement an information systems technology, the next step is to determine whether the system should be developed internally or externally. There are risks and benefits to either approach. Internal development can be costly. On the other hand, it “bakes” into the organization the critical skills necessary to not only maintain the system but to also enhance it over time. External development, whether on- or offshore, can realize considerable savings and allow the company to focus on its own core competencies. The trade-off can be a system that is less customized or adaptable to existing systems, as well as a continued reliance on the vendor for maintenance and upgrades.
This week, you will explore the critical factors to take into consideration when making such a decision, bearing in mind organizational strategy as the primary context for the development of information systems.
There are advantages and disadvantages to in-sourcing and outsourcing, For this week’s paper, respond to the following:
• What are the critical success factors in taking the decision to outsource IT functions? Which functions, if any, can/should be outsourced? What are the risks associated with outsourcing or offshoring?
• What are the advantages and disadvantages of short cycle time development? Do these mitigate the decision to outsource?
• What cultural barriers exist when offshoring IT development? Can these barriers be overcome? If so, how?
Resources to be used for the paper
Articles
• Baskerville, R., & Pries-Heje, J. (2004). Short cycle time systems development. Information Systems Journal, 14(3). Retrieved from Business Source Premier database.
This article examines a new form of development referred to as short cycle time systems development.
• Tafti, M. H. A. (2005). Risks factors associated with offshore IT outsourcing. Industrial Management & Data Systems, 105(5/6), 549–560. Retrieved from ABI/INFORM global database.
This article presents a framework to assess risk factors associated with offshore outsourcing of IT development.
• Gottschalk, P., & Solli-Sæther, H. (2005). Critical success factors from IT outsourcing theories: An empirical study. Industrial Management & Data Systems, 105(5/6). Retrieved from ABI/INFORM global database.
This article applies 11 management theories to rank critical issues in IT outsourcing using case studies and interviews as its methodology.
• Meso, P., & Smith, R. (2000). A resource-based view of organizational knowledge management systems. Journal of Knowledge Management, 4(3). Retrieved from ABI/INFORM global database.
This article asserts that the only true strategic asset is intellectual capital and that IT development of knowledge management systems must take into consideration the “socio-technical” perspective.
SAMPLE ANSWER
Information Systems
When outsourcing IT functions, there are key success factors that should be taken into consideration. The first factor is the cost of outsourcing as compared to that of an in-built information system. However, the cost should not be the chief factor to consider as some information systems might be very cheap but not very effective according to an organization’s need. Another factor is the security of the organization’s information. Some information systems need to be managed locally and confidentially; therefore, outsourcing may compromise the security of the information. Specificity of assets is another factor that should be considered. One should consider the ability of the outsourced information system to fit the specific organization’s needs. Most outsourced systems are designed in such a way that they can be used by any organization. Degree of uncertainty of the information systems is another critical factor. The IT world is ever evolving, and when considering outsourcing, it is important to weigh between the ability of the outsourced system to be overtaken by technology against an inbuilt system. Frequency of transactions in this regard means how often the information system will be used. For instance, outsourcing may be effective for transactions, which are done once for a long period of time (Gottschalk & Solli-Sæther, 2005).
According to Tafti (2005), insecurity of information is one of the risks associated with outsourcing. The systems like payment processing system should never be outsourced at any instance. Another risk factor is unsuitability of the information system in regard to the organization’s objectives and needs. Each system has got its own specific users; outsourcing may not meet the specific needs of the users who may employ the outsourced system. For example, in a salary processing system, not all employees may be entitled to house allowance but most information systems include this as one of the details in processing the salary.
Short cycle time gives an organization the ability to distinguish a mediocre team from serious one. The short cycle time sets out a target to a team member on what is to be achieved within a given period of time. This helps reduce the risk of delayed delivery of customers’ software due to issues of incompleteness of the process. Short cycle time development helps in dealing with the factors of economic changes. When developing software for a long time it may be affected by changes in the economy for example inflation which may result to higher prices of hardware than the price that was planned for. The IT world of today undergoes changes now and again, short cycle time development helps in development of software at the right time when it’s relevant to the users before they are overtaken by other new inventions. The short cycle time development is very appropriate in delivering emergencies, software’s that are needed within a very short time. Its quick and this saves on time and cost through the consolidated efforts of team members (Baskerville, & Pries-Heje, 2004).
One disadvantage of the short cycle time system development is that the system can be developed within a very short time, not taking into consideration how it will serve for a long time. Some systems are developed and work out correctly at their initial time of introduction, but later on, it crashes down immediately after it is launched. Such problems occur because the system developers never take their time to fully analyze the system. Another disadvantage of the short cycle time development is that the period for user education may not be enough to full equip the users on how to use the new software before it’s launched. They may be trained but they may not be very confident enough in handling the new software. This does not mitigate the fact that a system can be in-built in order to meet the needs of the organization. Proper planning can be done and by employing the appropriate expertise, the system can be developed effectively (Baskerville, & Pries-Heje, 2004).
The bureaucratic nature of an organization can become a barrier in off-shoring IT development. This involves the procedures that are encountered in signing off the deliveries at the various stages in the system development lifecycle. Lack of management commitment can influence the software development and implementation. If the management lacks commitment then the whole project may fail due to issues such as financing of the project in a timely manner. Technophobia is also another barrier towards software development within an organization. If the users are technophobic then there may be a problem along the software development life cycle when they shall be required to test and be educated on the software before it is launched. It’s necessary that the management confirm and understand the necessity of the software before its development begins. They should commit fully towards financing the project and sustaining the project through continued maintenance.
References
Baskerville, R., & Pries-Heje, J. (2004). Short cycle time systems development. Information SystemsJournal, 14(3). Retrieved from Business Source Premier database.
Gottschalk, P., & Solli-Sæther, H. (2005). Critical success factors from IT outsourcing theories: An empirical study. Industrial Management & Data Systems, 105(5/6). Retrieved from ABI/INFORM
Meso, P., & Smith, R. (2000). A resource-based view of organizational knowledge management systems.Journal of Knowledge Management, 4(3). Retrieved from ABI/INFORM global database.
Tafti, M. H. A. (2005). Risks factors associated with offshore IT outsourcing. Industrial Management & Data Systems, 105(5/6), 549–560.Retrieved from ABI/INFORM
We can write this or a similar paper for you! Simply fill the order form!
For this paper, they just want the writer to comments on the different sections starting from A-D. they writer will be polite and gentle in his or her critic of the post, and it is important that the writer use at least one credible source to support his or her point in APA and reference it at the end of that section. No cutting and pasting , watch out for plagiarism and each section should at least be a paragraph. use the same paper , and respond at the end of each section .
will upload it in the file section so that the format does not change since it has boxes
SAMPLE ANSWER
In At least 1 paragraph, comments on each of this post with at least one citation, offering your thoughts about the post, or expanding on some points that you felt needed some more thoughts and explanation. Avoid cutting and pasting use proper paraphrasing in this paper, and complete each section by writing the reference list in APA before going to the next section. Importantly you have to support each respond with a credible source and reference it at the end of that section .
SECTION A
What are your thoughts and comments about this post?
According to Bowell and Cannon (2014), data can be classified using measurement scales. There are four that are commonly used; nominal, ordinal, interval and ratio (Boswell & Cannon, 2014).
Type of Data
Sample
Statistical Procedure
Nominal: Data are categorized or labeled without any intrinsic ordering to the categories (Plichta & Kelvin, 2013).
Classifying people according to their gender.
Chi-square test
One sample t-test
Ordinal: Data are placed in the order of what is important or significant (Plichta & Kelvin, 2013).
Researchers measuring the level of satisfaction in patient wait times in the ER.
Mann-Whitney U test
Kruskal-Wallis test
Interval: Data has the identical interpretation throughout, the order and the exact differences between the values are known (Plichta & Kelvin, 2013). There is no absolute zero (Bowell & Cannon, 2014).
The difference between a temperature of 38*C and 39*C is 1 degree.
Student t-tests
Pearson correlation
McNemar’s test
Mann-Whitney test
Ratio: Data has an absolute zero and represents equal units (Plichta & Kelvin, 2014).
The time it takes for nursing students to hang IV fluids
Analysis of variance (ANOVA)
Central Tendency
t-Test
Having the position of wound nurse in a skilled nursing facility, the use of evidence-based practice protocol has played a major role in how wounds are properly cared for. Recently, a resident returned to the facility with orders for wound care that contradict evidence-based practice to appropriate wound therapy. Another skilled nursing facility had used this wound care technique, leading to a citation for inappropriate wound care. According to Bolton (2005) to improve patient outcomes and to answer common clinical issues evidence based practices need to be utilized. These strategies not only provide tools to give the best patient care, but also the development of cost-effective care (Bolton, 2005).
Boswell, C., & Cannon, S. (2014). Introduction to nursing research: Incorporating evidence-based practice (3rd ed.). Burlington, MA: Jones and Bartlett Learning.
Plichta, S., & Kelven, E. (2013). Munro’s statistical methods for health care research (6th ed.). Philadelphia, PA: Wolters Kluwer.
Respond here with in one paragraph minimum with at least one citation in APA
While the writer states that the ratio, interval, ordinal, and nominal measurement scales are the commonly used, my take is that these are the only measurement scales. I agree with the writer that nominal scales have no intrinsic ordering; ordinal scales follow order; interval scales have no absolute zero and the exact variation between values is known; and the ratio scale has an absolute zero. I admire the fact that the writer acknowledges the significance of evidence-based practice in leading the nursing practice. The practice improves patient outcomes and assists in answering the common clinical issues. It also promotes cost-effective care. However, the writer should have emphasized on the strong link that exists between the collected data and evidence-based practice. In this case, the credibility of the data should be a key factor. Individual patient care is also emphasized through the practice (Moorhead, 2013).
Reference
Moorhead, S. (2013). Nursing outcomes classification (NOC): Measurement of health outcomes. St. Louis, Mo: Elsevier/Mosby.
SECTION B
What are your thoughts on this post ?
Type of Data
Example
Statistical Procedure
Nominal (numerical values to identify or label values for coding of variables)
Binomial, Chi-square, Fisher’s exact test, McNemar, and Factorial logistic regression are just some examples used under Nominal statistical value
Ordinal (designed to show representation of measurements of no true zero value but to align them in a meaningful order from a lower category or rank to a higher rank)
Ranking of military, depression ratings, rating pain
Pain scale
could use the Likert scale with 0-3 with 0 be no pain and 3 be severe pain
Median, Wilcoxon-Mann Whitney test, Kruskall Wallis, and Friedman test are just some examples used under Ordinal statistical value
Interval (no true zero and are represented with equal numerical intervals between the values which allows for researchers to add and subtract equally across the scale to gain an observable measure)
GRE, SATs, MCAT, Fahrenheit degrees
98 degrees temperature
Or
480 reading score on SAT and 500 on math for SAT
T-test, Wilcoxin-Mann Whitney test, Kruskall Wallis, ANOVA, Friedman, and ordered logistic regression are just some examples under Interval statistical value
Ratio (combining the values of the interval system with the combination of a true zero value allowing for equal intervals between each value representation)
Weight, pulse, Blood pressure, height
Zeroing the bed upon arrival of a CHF patient to ensure that accuracy of weights and follow up weights
Multiple regression, MANOVA, factor analysis, T-test and paired t-test, ANOVA, and canonical correlation are just some examples under Ratio statistical value
UCLA (2014).
Quantitative analysis uses numerical values to define and explain the outcomes that have been represented by the research and can commonly be referred to as statistical analysis (Boswell & Cannon, 2014). Numeric data that make up and represent these areas of quantitative analysis can be classified into four divisions of measurement scales: Interval, Nominal, Ordinal, and Ratio. Interval scales has no true zero and are represented with equal numerical intervals between the values which allows for researchers to add and subtract equally across the scale to gain an observable measure (Plichta & Kelvin, 2013). Some common examples that can be used for interval scales are standardized tests such as the SAT, MCAT, and the GRE scores. The nominal scale is used as a measurement device to apply numerical values to identify or label values for coding of variables (Boswell & Cannon, 2014). Some common examples of these types of coding that may be applied under nominal scales may be numerical values for religion, gender, or ethnicity. These numbers are not concerned or represented in any particular order. This may be used to measure values in nursing staff when taking statistics for survey ratios on gender and applying a numerical value. Ordinal measurements are designed to show representation of measurements of no true zero value but to align them in a meaningful order from a lower category or rank to a higher rank (Plichta & Kelvin, 2013). Some common examples of this would be to rankings in military or to use this in the healthcare field to rate pain, depression, or satisfaction. A zero can be used as a ranking scale in this instance but does not mean that it is valued as a zero. A Likert scale can be used to compare pain rating scales even though a zero may used on this rating scale it may not be classified as a true zero and the other values in ranking based on the value of pain. The ratio scale can be described as combining the values of the interval system with the combination of a true zero value allowing for equal intervals between each value representation (Plichta & Kelvin, 2013). Common examples of this scale would be to describe patient’s weight, pulse, and blood pressure. All of the following examples at the measurement of zero represent the absence of the device being measure or the measurement in question and without the result being “zero-ed” the number can’t be accurately assumed (Plitcha & Kelvin, 2013). For instance, when a patient is admitted to a hospital, and they are entering with a diagnosis of CHF we must obtain a baseline weight by zeroing the bed to get a baseline weight to make sure that the following weights are therefore accurate on the ratio scale. Statistics may be used in our own evidence based practice because through research and data analysis the numeric values help to explain the outcomes of the research at hand. These statistics can help to display the way that variables can be differentiated and utilized to represent the statistical data based on how we chose to measure the device as deemed appropriate. With the appropriate measures of the scales and quantitative analysis from the data it can gain great insight to nursing for the future.
References
Boswell, C., Cannon, S. (2014). Quantitative Analysis. In B. Boswell and S. Cannon (3rd ed.), Introduction to nursing Research: Incorporating Evidence-Based Practice (pg. 338-362).
Burlington, MA: Jones & Bartlett.
Likert-type Scales, Statistical Methods, and Effect Sizes (2012). Communications of the ACM, 55(5), 6-7. doi:10.1145/2160718.2160721
Plichta, S.B. & Kelvin, E.A. (2013). Organizing, Displaying, and Describing Data. In B. S. Plichta and E. Kelvin (6th ed.), Munro’s Statistical Methods for Health Care Research (22-25). Philadelphia: Lippincott Williams & Wilkins.
Respond here with in one paragraph minimum with at least one citation in APA
The writer amazingly defines the nominal, ordinal, interval, and ratio scales. On the same note, I consider the examples given to be perfect. However, my take is that the statistical procedure should be as follows; nominal (mode), ordinal (median and mode), interval (arithmetic mean, mode, median, range, and standard deviation), and ratio (mode, median, arithmetic mean, geometric mean, harmonic mean, coefficient of variation, and studentized range) (Ingham-Broomfield, 2008). I agree with the writer that quantitative analysis utilizes numerical values and the numeric data used is normally, ratio, interval, nominal, and ordinal. Agrreably, interval scales have no true zero. The ordinal values have a meaningful order.
Additionally, nominal scales can simply be referred to as names or labels, are mutually exclusive, have no overlap, and there is no numerical significance. Ordinal scales can simply be remembered through the word order. Ratio scales is the overall measurement scale (Ingham-Broomfield, 2008).
Reference
Ingham-Broomfield, R. (2008). A nurses’ guide to the critical reading of research. Australian Journal of Advanced Nursing, 26(1), 102-109.
SECTION C
What are your thoughts on this section below?
Identification of questions about practice and patient outcomes is becoming a mainstream function in modern nursing practice (Siedlecki, 2008). Today’s nurses are being challenged to ask why phenomena occur in the healthcare setting and healthcare providers should be concerned with the acquisition of evidence with which to base their practice models. The PICOT question format is useful for quantitative research because it defines essential elements which must be in place for valid study framework (Boswell & Cannon, 2014). The nature of quantitative studies is to examine etiologies for experiences through the use of numeric and scientifically collected data (Pierce, 2009). In the discussion question, the adult clients with CHF and the other adult clients on the cardiac unit are the independent variables measured in a nominal scale to describe the existence of CHF and the absence of CHF upon admission. The dependent variable in the presence of a nosocomial infection also measured nominally for the presence of the infection. The chi-square test would be acceptable for this study as it is used to determine the relationship that may or may not exist between nominally measured variables in a study (Boswell & Cannon, 2014). The chi-square test will provide the statistical answers about the development of nosocomial infections in the population sample admitted with CHF.
Boswell, C., & Cannon, S. (2014). PICOT, Problem Statement, Research Question, and Hypothesis. In C.B. Boswell & S.C. Cannon (Eds.). Introduction to nursing research: incorporating evidence-based practice (6th Ed.). Burlington, MA: Jones & Bartlett Learning.
Pierce, L.L. (2009). Twelve steps for success in the nursing research journey. The Journal of Continuing Education in Nursing, 40(4), 154-163.
Siedlecki, S.L. (2008). Making a difference through research. Association of Operating Room Nurses Journal, 88(5), 716-
Respond here with one paragraph minimum with at least one citation in APA
It is impressive that the writer was keen to mention that nurses’ concern about patient outcomes and practice is very key in the present day healthcare environment. There is also a major concern as to why phenomena occur and how credible evidence can be acquired so as to promote the evidence-based practice. It is noteworthy that the writer recommended the PICOT questions for a valid study framework in quantitative studies (Giuliano & Polanowicz, 2008). Moreover, the writer is keen to note that quantitative studies use scientific and numeric methods of data collection. In the PICOT question, the writer identified the variable to be the nosocomial infection (dependent variable) while the independent variables are CHF patients and other cardiac patients. My take is that the cardiac unit is another dependent variable since there are other patients suffering from other diseases but are in other units. I also agree that the Ch-square test is more appropriate for the study.
Reference
Giuliano, K., & Polanowicz, M. (2008). Interpretation and use of statistics in nursing research. AACN Advanced Critical Care, 19(2), 211–222
SECTION D
What are your thoughts on this section below ?
PICOT questions help to process and formulate quantitative data through problem statements conducted by the designated appropriate acronym that has been created to help nurses and researchers place together important foundations and fundamental parts of these problem statements (Boswell & Cannon, 2014). When breaking down the acronym: P stands for population of interest, I stands for intervention, C stands for comparison, O stands for the outcomes of the data analysis, and T stands for time that has elapsed to achieve the outcomes during the process (Stillwell, Fineout-Overholt, Melnyk, & Williamson, 2010). PICOT can help nurses better understand research topics by bringing together the topics within the literature for review and allowing for researcher to gain insight into new perspectives and etiologies, predictions, or therapies that can change the course of our care and thinking. Variables are the measurement or value for which a certain characteristic is being recorded or measured to display value or meaning (Plichta & Kelvin, 2013). When using the problem statement as described above, “Adult clients who are admitted to the cardiac unit with congestive heart failure are more likely to develop nosocomial infections than other cardiac clients admitted to the cardiac unit,” it is important to try and determine the independent and dependent variables of the above statement and break it apart from the above PICOT setting to best understand the quantitative data. For the PICOT I chose the etiology setting as it seemed fit for this question due to the risks factors and relation to the conditions described under the segments by Stillwell et. al, (2010).
P- patients admitted to the hospital
I-CHF
C- without CHF
O-higher risk for developing nonsocial infections
T- time of stay in cardiac unit
The Independent variable: CHF clients and non CHF clients are the two independent variables because they are two classifications that are chosen and both stand alone and are not changed due to the other variable.
The Dependent variable: Is the nosocomial infection because this factor could change based on several measures being studied and as per the question this is the key factor that is to be studied.
I believe that the level of measurement for both will use the nominal scale due to the fact that it probably will include patient identification, gender, with no indication of order for number representation (Boswell & Cannon, 2014). When reviewing the data accumulated from the resources from UCLA (2014) chart of statistics for 2 independent values and one dependent value under the categorical or nominal would result in a: Factorial logistic regression, multiple logistic regression, or a discriminate analysis statistical test for these results.
References
Boswell, C., & Cannon, S. (2014). Introduction to Nursing Research: Incorporating Evidence-Based Practice. (3rd ed.). Burlington, WA: Jones & Bartlett Learning.
Plichta, S.B. & Kelvin, E.A. (2013).Organizing, Displaying, and Describing Data. In B. S. Plichta and E. Kelvin (6th ed.), Munro’s Statistical Methods for Health Care Research (22-25). Philadelphia: Lippincott Williams & Wilkins.
Stillwell, S., Fineout-Overholt, E., Melnyk, B., & Williamson, K. (2010). Evidence-based practice, step by step: asking the clinical question: a key step in evidence-based practice. The American Journal Of Nursing, 110(3), 58-61. doi:10.1097/01.NAJ.0000368959.11129.79
Respond here with one paragraph minimum with at least one citation in APA
I agree with the writer that the PICOT questions are particularly useful in quantitative studies. Another noteworthy statement is that problem statements are developed using designated proper acronym and this is very useful in ensuring that the fundamental parts and foundations of the study are incorporated. The writer argues that the PICOT questions are useful when reviewing literature so as to identify new research areas (Boswell, Boswell & Cannon, 2014). The definition of the acronym PICOT can really be useful to readers without knowledge on the same. This writer also identifies the independent variable to be the non CHF patients in the cardiac unit and CHF patients while the dependent variable is the nosocomial infection. I agree with the writer that the nominal scale is the most appropriate measurement level. However, I would suggest the use of Chi-square test as opposed to the tests recommended by the writer.
Reference
Boswell, C., Boswell, C., & Cannon, S. (2014). Introduction to nursing research: Incorporating evidence-based practice. Burlington, MA: Jones & Bartlett Learning.
We can write this or a similar paper for you! Simply fill the order form!
My assignment requires a paper written as a letter of recommendation. Sources/references aren’t needed. I’ll attach detailed instructions. Thank you
SAMPLE ANSWER
Request for a Letter of Recommendation
Name of the writer xxx
Address xxx
Email
Telephone
Date 19/7/2014
To the instructor
Florida International University
Address xxx
Dear Sir/Madam
RE: REQUEST FOR A LETTER OF RECOMMENDATION
I am delighted to seize the opportunity to write this letter to you, which is primarily aimed at requesting for your recommendation. I have earned a scholarship at an international university and it is mandatory that I get a recommendation from an important figure in the course of my life, such as you. It is on this ground that I humbly make this request to enable me pursue my career and achieve my dreams.
My name is XXX; I have studied at Florida International University for the last four years, where you have been my instructor for the last two years. I have had a cordial working relationship with you for the period we have known each other. At one point, you gave me an opportunity to talk to elementary students on the use of drugs during an initiative dubbed, ‘giving back to the community’. The programme was one of the initiatives of the university to participate in corporate responsibility.
I am a dedicated and a hardworking individual. This is manifest from my exemplary performance in my studies as well as co-curricular activities. I have won various awards at the university in different categories. I was awarded with a first class division in my studies. In addition, I received numerous awards in various categories in academics. In co-curricular activities, I participated in athletics and managed to win two silver medals. I also participated in various programs at the university such as providing training and counseling services at the various high schools in the state. As a leader of the university student body, I managed to spearhead an initiative geared at promoting creativity among the university students. I also worked as a volunteer after my studies, with the United Nations for duration of three months. These opportunities allowed me to put in practice my skills and knowledge, as well as to learn more skills of working with others. I came to embrace the spirit of teamwork and unity working together with my fellow colleagues. I am creative and embrace new ideas. Working as a volunteer with UN, I managed to develop a program that was adopted to help in reduction of poverty in the third world countries.
I would like the letter to be mailed to the director of foreign studies -University of Boston. The board of the University has the mandate of reviewing the letter and ascertaining the authenticity of the information provided. The letter should reach the office before the end of the month on 29 July, 2014. The university is very strict on deadlines and any letter that is accessed after the date is cancelled. I have enclosed a preaddressed stamped envelope to facilitate the sending of the letter to the above-mentioned institution.
As I conclude, I would like to send my gratitude for taking your time to go through the letter and to provide a recommendation. I hope that this opportunity will impact on my studies and make me realize my dreams. I furthermore, extend my thanks in advance as I wish you all the best in your endeavors. I am available and you can reach me through my email or telephone number provided in case of any questions for clarification.
Thank you in advance
Yours sincerely
Signature
We can write this or a similar paper for you! Simply fill the order form!
Quantitative data collection instruments and sampling methods available to researchers
Order Instructions:
Research at least three quantitative data collection instruments and sampling methods available to researchers using the text and additional resources from the University Library.
Identify two articles in the University Library: one in which the business problem is researched using a descriptive statistical method and another using an inferential method.
Summarize each of the data collection instruments, sampling methods, and the statistical methods.
Write a 1,050- to 1,400-word paper in which you compare and contrast each of the approaches:
•What are the strengths and weaknesses of each sampling approach?
•What are the specific situations in which you would choose to use each of the instruments and designs?
•What are the strengths and weaknesses of each statistical approach?
•How can they be used most effectively in a combined approach?
•Which methods are more appropriate for research in your own business and functional area?
Format your paper consistent with APA guidelines
SAMPLE ANSWER
Quantitative data collection instruments
Introduction
Business is often faced with the need to conduct studies towards certain issues. Research often seeks to increase production, reduce losses, determine new markets, and improve old products. The methods obtained should give as clear a picture as possible to determine the most reasonable course of action. The most reliable method should always be applied to research work if possible.
Data Collection Methods
In statistics, data collection is a vital process. It helps analysts to analyze the data collected and determine the best possible action. Various data collection methods may be used. The method used should be based on the data accuracy of data required, the size of the population and available resources (Good, 2013).
Census
This method involves the collection of all the data available for analysis, and from the entire population. This method of data collection is very expensive and time consuming for large populations. It is, however, very accurate as it is capable of reproducing the actual field data and is unlikely to be biased.
Sample data collection method
This is the collection of data from only a part of the entire population. The data is then assumed to be representative of the population data. To improve on the level of accuracy, the data may be stratified so as to ensure that it is representative. A big sample is also more accurate since it is more inclusive. This method is cheap and less time consuming.
Administrative method
Sometimes, data is obtained as part of the usual day-to-day activities of the business. Retail outlets may use the gender, age, marital status and shopping preferences to their advantage. They may therefore opt to collect this data during the day-to-day running of their business for their loyal customers. Hospitals on the other hand collect these details as a part of their business.
Comparison of Data Collection Methods
The most cost effective method of data collection is the administrative method. In this case, the institution does not have to provide for research to be conducted and the data is always available. The data collected this way is also reliable due to the trust that is built between the business and the consumer. Sample method is more effective for large populations. It is the less time consuming and cheaper than census method. They are however both more expensive and less reliable than the administrative method.
Sampling Methods
Sampling is the determination of the sample size. It involves both the selection of the sample size and the members of the samples. A good sample should be such that it is representative of the actual population. It should also provide as accurate information as possible. Different methods are used towards this selection.
Random sampling
This is the simplest method of sampling. Each member of the population stands an equal chance of being selected in the sample. This chance of being selected is usually known and is mainly dependent on the sample size and the population size. For very large populations, the possibility of identifying every member of the population becomes minimal. This results in a biased sample.
Systematic sampling
This is also referred to as the k-th name selection technique. After the sample size has been determined, the sample is selected by picking every k-th member of the population. This method is as workable as random sampling provided that the population does not have any hidden order. It is easier than random sampling to execute. This method is often used to select samples from lists or computerized data.
Stratified sampling
This method is favorable to random sampling since it reduces the sample error. It involves grouping the members of the population into categories according to their similarities. These groups are known as stratums. Random sampling is then used to select small samples within these samples. To determine the sample to be selected from each sample, fractional representation of each subset is considered.
A comparison of Sampling Methods
Random sampling is the most commonly used method of sampling. It is cheaper than other methods and less time consuming. On average, it is usually representative of the population. Systematic sampling is as good as random sampling. It however suffers the risk of having a hidden trend in the sample in which case it often biases the sample. Stratified sampling is the most representative sampling method. Every member of the population is adequately represented (Tuggle, 2012).
The article China: Commercial Banking Report, was obtained by the use of administrative data collection method. Every banking company is required to give their financial records to the rightful authorities. The authorities, on the other hand, have a very easy time getting access that would provide for the composition of this article. The data that would be required in this case would be Banks’ Bond Portfolios, 2014, Loan/Deposit & Loan/Asset & Loan/GDP ratios, 2014, Total Assets & Client Loans & Client Deposits (US$bn), and US$ Per Capita Deposits, 2014. With this information, the rest of the article can be written (China: Commercial Banking Report, 2014).
The case of the Chinese banks is a unique one. Due to the ease of access to information, and the small population, it was possible to involve all the banking institutions. This way, the accuracy of the information was maximised.
The inferential statistical method is used in this case. The data obtained about specific banks is analysed to determine the economic situation of China. The trends are also observed and used to obtain forecasts for the industry. Since the data obtained is further analysed to obtain inferences, the method can only be said to be inferential.
The article The Toyota Group and the Aisin Fire by Toshihiro Nishiguchi and Alexandre Beaudet, is another unique article. In this case, the information was obtained from different workers and witnesses of the two companies randomly. In this case, the willingness to contribute to the research and the possession of information were the only things that mattered. In this case, the timeline of the events that occurred after the plant was on fire were the most important. Other data that was collected included the dates of the events, the losses, and the contributions towards recovery. To substitute the information obtained this way, the records of the events was also obtained from other sources. Good sources in this case included other publications, bank records and the information that had been granted to the authorities (Nishiguchi, & Beaudet, n.d.).
The sample was selected at random. In this case, all the witnesses that were willing to divert information were allowed to do so. As mentioned above, to complicate the method further, the data was compared with other sources so as to obtain the most reliable data. The statistical method used in this case is descriptive. The information obtained was only rearranged to presentable form and then granted to the readers. In this case, no inferences are made. The reader is left to his own devices to make any conclusions where necessary.
The most appropriate sampling method that may be used in the communications industry, say, to determine the consumption of airtime by mobile phone users, would be systematic sampling. All customer information is available within databases. It would be therefore very easy for a statistician to select every k-th consumer and obtain their consumption information. The information should be used to infer to determine the future of the industry or to understand consumer-calling habits. Once the habits are obtained, it is possible to inference towards making use of consumer in formation in terms of encouraging calls during hours when consumers hardly call and to create new products. The statistical method that would be most appropriate would therefore be the inferential method (Beaulieu, 2012).
Conclusion
In statistics, it is the role of the statistician to present reliable data. For data to be termed as reliable, it has to be representative and accurate. The statistician then selects the methods that are most reliable for his case. He is also challenged to keep the costs and time used as low as possible since they are often the reason why research is often carried in the first place. A census is conducted whenever a small population is being analyzed. This maximizes the accuracy of the information presented. If a census is impossible, other methods may be used but a high sample size is highly encouraged.
References
Beaulieu, D. (2012). An Introduction to Sampling in Statistics. New Delhi: World Technologies.
ANALYSIS OF RESEARCH DATA ;Analyzing Quantitative Data
Order Instructions:
ANALYSIS OF RESEARCH DATA
Analyzing Quantitative Data
Previously you discussed how data is collected. Now you will consider how the information gathered with data collected is analyzed.
How does the researcher go about organizing and looking at the data in order to understand what it means? In quantitative research this is accomplished through the use of statistics.
The methods for data analysis depend on the purpose and data collection methods. Most all studies will have descriptive statistics. These statistics describe the sample that was studied. They include data like the percent of men and women, the mean age of the sample, and any other demographic data collected.
The two other most common methods of data analysis are the paired t-test, which measures the differences in means between two groups, or the same group with a pretest and posttest; and the Pearson’s r which measures the relationships between two variables. Pearson’s r can also be used to identify relationships between demographic data and other variables.
Activities
REQUIRED ACTIVITIES
From your textbooks, read:
Introduction to Nursing Research Incorporating Evidence-Based Practice
• Chapter 12
• Chapter 13
Please look up and read the following articles before completing the critique of this paper
• Coughlan, M., Cronin, P., & Ryan, F. (2007). Step-by-step guide to critiquing research. Part 1: quantitative research. British Journal Of Nursin, (BJN), 16(11), 658–663.
• Giuliano, K., & Polanowicz, M. (2008). Interpretation and use of statistics in nursing research. AACN Advanced Critical Care, 19(2),211–222
• Ingham-Broomfield, R. (2008). A nurses’ guide to the critical reading of research. Australian Journal Of Advanced Nursing, 26(1), 102-109.
KuKanich, K. S., Kaur, R., Freeman, L., & Powell, D. A. (2013). Evaluation of a Hand Hygiene Campaign in Outpatient Health Care Clinics. AJNonline; 113(3).
Problem:
What is the problem the study was conducted to research?
Many research studies conducted earlier have tested the interventions for improving hand hygiene within teaching hospitals and clinics and the interventions were found to be successful. Nonetheless, moderately few research studies have actually tested such interventions within outpatient hospitals and clinics.
Why is the problem an important one for nursing to research?
The problem is an important for nursing to research primarily because it will help to improve adherence to hand hygiene practices of health care workers in outpatient settings.
Study Purpose
What is the purpose of the study?
The purpose of the research study is essentially to improve hand hygiene in 2 outpatient healthcare clinics by introducing an informational posters as well as a gel sanitizer (Kukanich et al., 2013).
Research Question
What is the main research question?
The researchers formulated 5 main/primary questions that were to be addressed in the study. These include the following:
Could an intervention campaign carried out in 2 outpatient healthcare clinics result in improved hand hygiene?
Are there any dissimilarities in the observed frequency of hand hygiene at baseline compared with that at 1 week and 1 month after introducing the intervention?
Are there any dissimilarities in the observed frequency of hand hygiene basing on the gender, profession, and timing (post-patient and pre-patient contact) of the worker?
Which tools of hand hygiene do healthcare staffs in these settings – outpatient settings – prefer?
Would the observed healthcare staffs later on report that both or either intervention tools were actually motivating and indeed influenced habits of hand hygiene?
Hypothesis/hypotheses
What is the study hypothesis? If it is not stated, what would you say the hypothesis is?
Interventional campaigns in the 2 outpatient health care clinics will lead to improved hand hygiene. The use of a multifaceted implementation approach that consists of a gel sanitizer and giving informational posters helps in achieving significant improvement in adherence to HH practices and practices within outpatient clinics.
Study Variables
INDEPENDENT
Define the meaning of the term “independent variable.”
Independent variables (IV) are those variables which are manipulated or varied by the researcher during the investigation. In essence, the IV is the presumed cause, it is the antecedent. In experiments, the IV is the one which is manipulated and controlled by the person doing the experiment. In non-experiment research in which there is no experimental manipulation, the IV is basically the variable that logically has some effect on the Dependent Variable (Hoe & Hoare, 2012).
Identify the independent variables in this study and provide a definition of the variable.
It is notable that 2 outpatient health care clinics were used in this research study. The 1st clinic was an outpatient oncology clinic, and the 2nd clinic was an outpatient gastrointestinal (GI) clinic. The IV in this study basically comprised the introduction of an informational poster and a gel sanitizer as an intervention.
How is the independent variable carried out in this study?
Gel sanitizer was included in this study in order to provide HCWs with an alternative to foam sanitizer and water and soap. The researcher’s created an informational poster in order to increase HCW’s awareness of HH, offer information regarding when HH has to be done, and encourage HCWs to take personal responsibility for decreasing the spread of infections which are associated with health care (Kukanich et al., 2013).
DEPENDENT
Define the meaning of the term “dependent variable.”
A Dependent Variable (DV) is understood as the response which is measured in an experiment. The DV is the presumed effect, it is the consequent. The Dependent Variable is not manipulated by the investigator, rather, it is the Dependent Variable which is measured or observed for variation as a presumed, supposed outcome of the variation in the Independent Variable (Venkatesh, Brown & Bala, 2013). The Dependent Variable is essentially the status of the outcome or the effect in which the investigator is interested. In essence, the DV is the variable that the researcher observes and is likely to change in response to the IV.
Identify the dependent variables in this study and provide a definition of the variable.
In this study, the DV is the adherence of health care workers – doctors, nurses, and other workers in the hospital setting – to hand hygiene practices and guidelines.
How is the dependent variable measured in this study?
The DV variable was measured by directly observing HCWs to measure HH opportunities as well as attempts at baseline, after the intervention, and in the course of the follow-up period. Direct observation by trained observers is essential in providing more precise, exact information as regards the preferences of a health care worker for hand hygiene tools. The investigators measured the number of HH attempts against the number of HH opportunities. The opportunities were monitored by direct observers who recorded the attempts. HH opportunities were defined as the opportunities which occurred instantaneously prior to, and after a HCW directly contacts a patient. HH attempts are efforts to do HH in each opportunity (Kukanich et al., 2013).
Conceptual Model/Theoretical FRAMEWORK –
Is the framework explicitly expressed or must the reviewer extract the framework from implicit statements in the literature review? JUSTIFY your response!
In this research study, the conceptual model/theoretical framework is not explicitly expressed. The reviewer has to extract the framework from implicit statements in the literature review. This is because it is not overtly or clearly stated by the authors anywhere in the article and to know it; the reviewer must read through the statements contained in the literature review.
Is the framework based on scientific, substantive, or tentative theory?
The theoretical framework in the article is based on tentative theory; the researchers built tentative theory basing on certain propositions.
Does the framework identify, define, and describe relationships among the concepts of interest? Provide examples and rationale for your response.
Yes, the framework identifies, defines and describes relationships amongst the concepts of interest. For instance, the researchers have pointed out that an earlier hospital-wide study included the promotion of alcohol-based sanitizers, which led to increased usage of these hand sanitizers that resulted in improved adherence to HH guidelines. Simply put, there was a relationship between the promotion of alcohol-based sanitizers and improved adherence to HH guidelines; the more it was promoted, the more the HCWs in that hospital used it. Another example is the relationship between alcohol-based sanitizers, soap and water, and bacteria. When properly used, studied have demonstrated that alcohol-based sanitizers are more effective in removing some bacteria relative to water and soap (Kukanich et al., 2013).
How is the framework related to the body of knowledge in nursing?
The framework is related to the body of knowledge of nursing in that it helps in understanding how exposure of HCWs in busy outpatient healthcare settings to interventional tools could result in improvement of adherence to HH guidelines. It also helps to understand how gel sanitizers or informational posters help to improve adherence.
Review of the Related Literature
Are the articles relevant with previous studies and theories described?
Yes, the articles are relevant with previous studies and theories described. This because the articles are largely about adherence of HCWs to HH guidelines, which are in line with the previous theories and studies described which are also about the same thing – adherence of HCWs to guidelines of hand hygiene.
Are the references current? Identify the number of sources within past 10 years and the number of sources within past five years.
A total of 28 references were used by the researchers in this study. Most of them are relevant since out of the 28, 18 of them are from past the 10 years – dated 2004 up to present year –, and 5 are from the last 5 years – 2009 up to present year.
Describe the current knowledge about the research problem.
The practice of hand hygiene (HH) by healthcare workers (HCWs) including nurses and physicians using either water and soap or an alcohol-based hand sanitizer, is regarded as the most effective and significant method utilized to prevent healthcare-associated infections. Earlier studies have clearly shown that hand hygiene helps to reduce the rates of healthcare-related infections, adhering to the guidelines of hand hygiene is low amongst HCWs. In order to improve the adherence to HH guidelines and sustain such improvement in the long-term, it is important to recognize and address barriers. The main barriers basically include: a perception that HH interferes with patient-worker relationships; skin irritation; poor habits that were learned early in life; time constraints; poor access to HH materials; time constraints; forgetfulness; as well as lack of knowledge of HH guidelines (Huis et al., 2013).
Cleaning hands using an alcohol-based sanitizer usually takes less amount of time compared with washing with the use of water and soap. In addition, when utilized properly, it has been demonstrated that alcohol-based sanitizers are more effective compared to water and soap in eliminating some bacteria. It is on account of this that the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) actually recommend the utilization of alcohol-based sanitizers or hand rubs for clinical healthcare contexts. Nonetheless, washing hands using water and soap is still the favored way when hands are noticeably dirty. It is also the preferred method whenever one suspects contact with some infectious agents, for instance norovirus and Clostridium agents, considering that these organisms are very much resistant to killing with the use of alcohol (Boudjema et al., 2014).
Individual HCWs generally have dissimilar preferences of HH products and they can be affected to some extent by dissimilar barriers and motivators to HH. Santos (2013) noted that it has been shown by earlier studies that the use of more than one method is necessary in order to attain improved HH practices and sustain them over the long-term. In essence, such campaigns typically comprise the promotion of alcohol-based hand sanitizers. Even though evidence is lacking showing that educational materials alone for instance posters are actually effective at altering behavior of HCWs to adhere to HH guidelines, those which employ messages framed in terms of possible gains instead of losses and which entreat the HCW’s sense of responsibility for the health of the patient might be of benefit in combination with other vital strategies.
Specify the gap in the literature that justifies the need for the research.
There is little or very limited knowledge about the adherence of HCWs in busy outpatient settings to hand hygiene guidelines. There is also gap in knowledge regarding the effectiveness of using gel sanitizers and informational posters in the overall HH performance of HCWs within outpatient clinics. This study was aimed at addressing this gap in existing knowledge.
Many research studies have tested interventions that can be applied to improve HH in teaching hospitals and it was found that they were actually successful. Nonetheless, fairly few studies have tested these sorts of intervention within outpatient clinics. Mensah (2005) in their study which they carried out in outpatient clinics in Britain observed that baseline HH adherence was 18 percent. In a different research study carried out in an outpatient clinic in Israel, Cohen (2002) observed the behavior of doctors and sampled their hands for bacteria, although there was no intervention that was introduced. Observance to HH was low at just 31 percent. It was also observed that 69 percent of the doctors had Stapholococcus aureus in their hands. Some of the reasons that doctors cite for not adhering to HH guidelines include the absence of hygiene facilities, lack of awareness, too much workloads, as well as negative reactions to disinfectants (KuKanich et al., 2013).
Study METHODOLOGY
NAME the specific quantitative methodology of the study.
Observation is the specific quantitative methodology that was applied by the researchers. At times one cannot control a situation, and conducting an experiment is typically not feasible. Nonetheless, it might be probable to observe what goes on.
Provide a clear description/definition of this methodology (in your own words); use an article or your text to support the definition and provide a citation.
Quantitative observation is basically an observation that could be measured in numbers for instance length, volume, and acceleration. In essence, quantitative observations are usually made using instruments (Lubbe & Roets, 2014). They are observations observed of data in numbers; objects are counted or measured and are commonly with numbers.
Why was the choice of this methodology appropriate for this study? JUSTIFY your response.
The choice of observation quantitative methodology is appropriate for this study since the researchers has to collect data through observations. They needed to observe the subjects/participants in order to monitor the HH opportunities and to record the HH attempts of the HCWs in the 2 clinics.
Sample and Setting
Identify inclusion and exclusion sample criteria.
The inclusion criteria included the following: (i) the participant had to be a health care worker; (ii) the participant had to be working at either GI clinic or at the oncology clinic; (iii) the subject had to be a nurse or a physician; and (iv) the subject has to be aware of hand hygiene practices. The exclusion criteria: (i) the individual not being a health worker; (ii) the participant not working at either GI clinic or at the oncology clinic; (iii) the individual not being either a nurse or a physician.
Indicate the method used to obtain the sample. Provide a definition of the method and discuss why it was an appropriate choice for this study
The sampling method utilized by the researchers in this study is purposive sampling. Purposive sampling is essentially a sampling method in which the researcher samples with a purpose in mind. The researcher would typically have 1 or more precise groups that he/she is seeking. Purposive sampling is essentially a kind of non-probability sampling wherein some elements of population do not have any chance of selection, or in which the probability of selection cannot be established accurately (Yarcheski & Mahon, 2013).
Purposive sampling method was appropriate in this research study since the researchers started with a purpose in mind; they wanted a certain predefined group – health care workers in busy outpatient clinics. As such, they only had to sample individuals who are health care workers working in outpatient clinics.
State the sample size. Indicate if a power analysis was conducted to determine the sample size.
This study included a sample size of 88 participants: 41 HCWs at the GI clinic and 47 HCWs at the oncology clinic. Power analysis was not performed to determine the size of the sample.
Identify the SPECIFIC characteristics (demographics) of the sample.
The demographic in this study is defined in terms of gender. Survey was conducted in which 56 HCWs were sent questionnaire survey: 15 from the GI clinic and 41 from the oncology clinic. Of the 56 respondents, 30 were females while 26 were male.
Identify the sample mortality (or attrition) number and percentage.
Sample attrition or mortality is understood as the number of individuals who drop out of the research study in the course of the study. Initially, 88 health care workers were mailed questionnaire survey and only 56 of them returned the survey. As such, the attrition is 32. This is equal to 36.36%.
Indicate the type of consent obtained and institutional review board approval.
Getting consent for the participation of participants in any research study is of major importance. The main types of consent include proxy, post-hoc, implied/implicit, and explicit/express/informed. Implied/implicit consent was obtained from the participants of this research study given that the consent was not obtained through formal ways, for instance verbal or written approval (Schneider, Nicholas & Kurrus, 2013). The participants completed questionnaire forms and this implied their consent to take part. Approval was obtained from the administration of the two clinics.
Identify the study setting and indicate if it is appropriate for the study purpose. JUSTIFY your response!
The research study was conducted in 2 outpatient clinics. This setting is appropriate for the purpose of the study since the researchers wanted to improve HH in the 2 outpatient health care clinics by way of introducing an informational poster and a gel sanitizer.
Identification and Control of Extraneous Variables
Define extraneous variables
Extraneous variables are basically understood as undesirable and unwanted variables which influence the relationship between the variables being examined by the investigator. Extraneous variables influence an experiment’s results, although they are not the variables of interest (Hoe & Hoare, 2012).
What are the extraneous variables in this study? In what way(s) were appropriate measures used to control for the influence of the extraneous variables? Describe fully. If not addressed, explain how you know this and identify the extraneous variables you would note.
In this research study, the extraneous variables include gender, age, background and mood of the participant. It is notable that during the research study, female HCWs were more consistent in HH compared to male HCWs. The influence of extraneous variables was controlled by using almost the same number of male and female participants in the study, and ensuring that they all have the almost the same background regarding knowledge of hand hygiene practices.
Study Instruments/Tools
Identify the instruments used in the research
Survey was the instrument used.
FOR EACH INSTRUMENT: Instrument #1; Name of Instrument: Discuss how the instrument was developed or purpose of use. Cite the source for the background information about the instrument.
Survey was the instrument utilized by the researchers. A survey was mailed by the researchers to the nurse managers at the 2 clinics, and was circulated to 41 HCWs at the GI clinic and to 47 HCWs at the oncology clinic, 3 months following the final day of the follow-up observations. The researchers carried out the survey in order to evaluate the HCWs’ opinions of HH at their respective clinics, as well as their preferred tools of HH – gel sanitizer, foam sanitizer, or water and soap (Kukanich et al., 2013). Surveys are a descriptive, non-experimental method of research and they are particularly valuable whenever the investigator wants to gather data on phenomenon which cannot be observed directly, for instance opinions and perspectives of participants (Hoe & Hoare, 2012).
Identify the type of measurement strategy (e.g., Likert scale, visual analog scale, physiological Measure, questionnaire, observation, or interview).
Questionnaire, observation and Likert scale were used. Observation was measurement strategy applied. Interventional observation was used as the participants were directly observed to monitor HH opportunities and record HH attempts. Questionnaire was used after the observation. A 5-item Likert scale that ranged from strongly agree to strongly disagree was utilized for questions about the motivational effectiveness of each of the intervention tools.
Identify the level of measurement (nominal, ordinal, interval/ratio) achieved by the measurement strategy. Provide a definition of the level of measurement(s) you identified and justify WHY you believe the instruments represent this level of measurement.
The measurement strategy achieved ratio. In ratio measurement, a meaningful absolute zero is always there. This implies that the researcher can construct a meaningful ratio using a ratio variable (Yarcheski & Mahon, 2013). The instruments represent ratio level of measurement because in the survey conducted in this study, there could be zero HCWs who believe that HH campaign has improved their HH practices.
Report the reliability of the instrument from previous studies and the current study.
He instrument is consistent. The information collected by the survey is consistent.
Report the validity of the instrument from previous studies and the current study.
The instrument is accurate and it serves the function that it was intended to serve, and always gives information that is correct.
Data Collection Methods
Detail how the data were collected.
Data were collected through observation and the use of survey. Through observation, the investigators observed the subjects/participants in order to monitor the HH opportunities and to record the HH attempts of the HCWs in the 2 clinics. One month following the final day of interventional observations, the researchers conducted follow-up direct observations of HH on 3 non-consecutive days. Survey was carried out to evaluate the HCWs’ opinions of HH at their respective clinics, as well as their preferred tools of HH – gel sanitizer, foam sanitizer, or water and soap
In what way(s) is the data collection procedures appropriate for this study?
Observation is appropriate since they needed to observe the subjects/participants in order to monitor the HH opportunities and to record the HH attempts of the HCWs in the 2 clinics. Survey is appropriate since it was useful in assessing the HCWs’ sentiments of HH at their respective clinics, as well as their preferred tools of HH.
In what way were appropriate steps taken to protect the rights of the subjects?
The subjects were respected and treated as autonomous agents and those who wanted to drop out were allowed to do so. In essence, there right to end participation in the research study at any time was respected. They were also given access to information as regards the research study.
Statistical Analysis Procedures
Identify the statistical procedures used in the study: Statistical Procedure #1 (Name and definition):
Chi-square: Pearson’s x2 was used. Pearson’s chi-squared is essentially a statistical test which is used in sets of categorical data in evaluating how probable it is that any observed dissimilarity between the sets came about by chance (Yarcheski & Mahon, 2013). In essence, it is utilized in determining whether there is any sort of relationship between 2 categorical variables.
Pearson’s Chi-square is the only statistical procedure that was used.
How was it used in the study?
Pearson’s x2 analyses were utilized in comparing the frequency of HH attempts throughout the 3 observation periods and in comparing the post-contact and pre-contact frequency of such attempts. It is notable that every calculation had 1 degree of freedom, and a P value equal to or less than 0.05, that is, <= 0.05, was seen as significant (Kukanich et al., 2013). Only descriptive statistics were utilized in assessing the frequency of HH by HCW’s profession and gender considering that there were considerably less observations of male HCW’s to allow comparative analyses. In addition, descriptive statistics were utilized to compare the HH tools utilized, given that product availability did vary in the course of the study.
Complete the table below with the analysis techniques conducted in the study:
Statistical Procedure
Statistical Findings
Significance (provide a narrative description of the significance as well as the actual statistical values
Chi-square
Before intervention: Rate of attempt at GI clinic = 21%
Rate of attempt at oncology clinic = 11%
After intervention:
Rate of attempt at GI clinic = 54%
Rate of attempt at oncology clinic = 36%
In both the GI and oncology clinics, the overall rates of HH attempts to HH opportunities were 21% and 11% respectively.
This improved greatly after the intervention was introduced to 54% and 36% respectively, and remained improved at the 1-month follow-up period 51% and 32% respectively.
What are the specific results of the study? Provide DEPTH and write IN YOUR OWN WORDS.
In the GI clinic, at baseline, the overall rate of HH attempt to opportunities was 21%, it was 11% for the oncology clinic, and after the intervention, these improved substantially to 54% for the GI clinic and 36% for the oncology clinic. Half of those who were surveyed agreed or strongly agreed that the HH campaign had actually increased the awareness of HH. On the whole, 34 percent of the subjects agreed that HH campaign had improved their HH practices. Moreover, half of the participants agreed or strongly agreed that introducing gel hand sanitizer served as an effectual motivator and resulted in improved frequency of HH. HH performance was consistently better after contact with patient compared to before contact with patient.
Strengths\Limitations
What are two major strengths of the scientific merit of this study? (This does not refer to findings of the study)
It was easier to answer the research questions using a small sample size than a large one
The study was carried out on a new area which has not been examined previously thus it greatly contributes to the body of existing knowledge.
What are two major limitations of the scientific merit of this study?
The possibility of the Hawthorne effect – some HCWs may have noticed that they are being observed, and hence they cleaned their hands more regularly.
Only 56 subjects actually took part in this study which is a very small figure hence the findings cannot be generalized to the entire population of outpatient HCWs. It is difficult to generalize findings from a small size (Hackshaw, 2010).
How did the researcher generalize the findings?
The researchers generalized the findings by stating that the HH campaign demonstrated that providing informational posters and introducing a gel sanitizer could bring about short-term improvements in HH performance within outpatient clinics.
What did the researchers say the relevance of the data was? Describe the researchers’ interpretation of the findings.
They stated that the results of the research show that the HH frequency by HCWs in busy outpatient healthcare settings is low. They added that short-term exposure to interventional tools could result in modest improvement still seen at 1-month follow-up. Moreover, pre-testing interventions within a particular healthcare setting and utilizing a multi-faceted implementation approach may help in achieving the highest improvements. Reinforcing and/or establishing a clinic-wide expectation that HCWs would follow HH recommendations is also an important measure which might further encourage HH adherence.
Where in nursing can the results of the data be applied?
In busy outpatient settings
What suggestions for further study were identified?
The researchers recommend that in future, after the collection of baseline data, researchers should seek the ongoing involvement and support of influential HCWs who may also act as role models for other HCWs.
Is the description of the study sufficiently clear for replication? Explain and Justify your response
Yes, the description of the data is adequately clear for replication. This is because the instruments used were valid and reliable. They were accurate and measured what they were designed to measure.
REFLECTION
Reflect upon your newly developed understanding of quantitative research. What has this experience critiquing a quantitative research study meant to you and how will this make a difference in your overall practice of nursing? Please provide depth and be sure you respond to the question. This is a subjective response and must be at least 2 full paragraphs. Please respond in reference to understanding quantitative methodology and not the specific focus of the research study.
What has the experience of reading and critiquing a quantitative study meant to you?
It has meant much to me as it has helped to gain essential knowledge and skill that I can effectively utilize to conduct a useful quantitative research. It has helped me to identify the weaknesses such as small sample size that I need to avoid in order to ensure that the findings which I obtain can be generalized. It has also offered me a better, clear understanding of Chi-square/Pearson’s X2 and how I can use this statistical procedure in quantitative data analysis.
How will understanding and using quantitative research findings make a difference in your practice of nursing?
The understanding of using these quantitative research findings will make a difference in my practice of nursing in several ways. It will allow me to effectively apply the findings in my workplace, for instance by adhering to HH guidelines. Moreover, it will help me to focusing on doing what is right in order to improve outcomes.
References
Boudjema, S. S., Dufour, J. C., Aladro, A. S., Desquerres, I. I., & Brouqui, P. P. (2014). MediHandTrace®: a tool for measuring and understanding hand hygiene adherence. Clinical Microbiology & Infection, 20(1), 22-28. doi:10.1111/1469-0691.12471
Cohen, H. A .(2002). Handwashing patterns in two dermatology clinics. Dermatology;205(4):358-61.
Hackshaw, A. (2010). Small Studies: Strengths and Weaknesses. European Respiratory Journal; 32(5):1141-1143.
Hoe, J., & Hoare, Z. (2012). Understanding quantitative research: part 1. Nursing Standard, 27(15-17), 52-57.
Huis, A., Hulscher, M., Adang, E., Grol, R., van Achterberg, T., & Schoonhoven, L. (2013). Cost-effectiveness of a team and leaders-directed strategy to improve nurses’ adherence to hand hygiene guidelines: a cluster randomised trial. International Journal Of Nursing Studies, 50(4), 518-526. doi:10.1016/j.ijnurstu.2012.11.016
KuKanich, K. S., Kaur, R., Freeman, L., & Powell, D. A. (2013). Evaluation of a Hand Hygiene Campaign in Outpatient Health Care Clinics. AJNonline; 113(3).
Lubbe, J., & Roets, L. (2014). Nurses’ Scope of Practice and the Implication for Quality Nursing Care. Journal Of Nursing Scholarship, 46(1), 58-64. doi:10.1111/jnu.12058
Mensah E. (2005). Hand hygiene in routine glaucoma clinics. Br J Ophthalmol;89(11):1541-2.
Santos, L., Souza Dias, M., Borrasca, V., Cavassin, L., Deso di Lobo, R., Bozza Schwenck, R., & … Bierrenbach, A. (2013). Improving hand hygiene adherence in an endoscopy unit. Endoscopy, 45(6), 421-425. doi:10.1055/s-0032-1326284
Schneider, B., Nicholas, J., & Kurrus, J. E. (2013). Comparison of Methodologie Quality and Study/Report Characteristics Between Quantitative Clinical Nursing and Nursing Education Research Articles. Nursing Education Perspectives, 34(5), 292-297.
Yarcheski, A., & Mahon, N. E. (2013). Characteristics of Quantitative Nursing Research from 1990 to 2010. Journal Of Nursing Scholarship, 45(4), 405-411. doi:10.1111/jnu.12038
We can write this or a similar paper for you! Simply fill the order form!
Measurement Scales/Variables, Measurement, and Statistics
Order Instructions:
SECTION A (1.5pages)
Measurement Scales
Quantitative analysis requires the use of numeric data to describe and interpret the results. The types of numeric data collected will determine what statistics can be utilized.
1. Please provide a definition of the nominal, ordinal, interval, and ratio scales and develop a simple chart with an example of each and specifying the types of statistics that might be used with each as follows:
Type of Data Example Statistical Procedure
Nominal (provide definition)
Ordinal (provide definition)
Interval (provide definition)
Ratio (provide definition)
2. Conclude your discussion with a reflection on how statistics might be utilized in your own evidence-based practice.
3. Provide at least three citations with full references to credible nursing scholarly articles supporting your definitions and discussion.
SECTION B (1.5pages minimum)
Variables, Measurement, and Statistics
A nurse has decided to research the following PICOT question: “Adult clients who are admitted to the cardiac unit with congestive heart failure are more likely to develop nosocomial infections than other cardiac clients admitted to the cardiac unit.” A quantitative research design is planned for this Project.
1. From the PICOT question, determine the following:
a. Identify the variables
b. Identify the levels of measurement of each variable
c. Identify the statistical test(s) to be used.
2. Provide at least three citations with full references to credible nursing scholarly articles supporting your definitions and discussion.
Resources to be used for each of the sections
• Coughlan, M., Cronin, P., & Ryan, F. (2007). Step-by-step guide to critiquing research. Part 1: quantitative research. British Journal Of Nursing, (BJN), 16(11), 658–663.
• Giuliano, K., & Polanowicz, M. (2008). Interpretation and use of statistics in nursing research. AACN Advanced Critical Care, 19(2), 211–222
• Ingham-Broomfield, R. (2008). A nurses’ guide to the critical reading of research. Australian Journal of Advanced Nursing, 26(1), 102-109.
From your textbooks, read:
Introduction to Nursing Research Incorporating Evidence-Based Practice
• Chapter 8: “Quantitative Design”
• Chapter 12: “Data Analysis”
• Chapter 13: “Critique Process”
SAMPLE ANSWER
Measurement Scales/Variables, Measurement, and Statistics
Section A
Types of data
Example
Statistical procedure
Nominal
Hair color
Mode for central tendency
Ordinal
How do you feel?
Mode and median
Interval
Celsius temperature, time
Arithmetic mean, median, mode, standard deviation, and range
Ratio
Height and weight
Arithmetic mean, median, mode, harmonic mean, geometric mean, studentized range, and coefficient of variation.
Nominal scales are utilized for labeling variables in the absence of quantitative value. They can simply be referred to as labels or names. The scales have no overlap or are mutually exclusive and none has numerical significance.
Ordinal scales; the order of values is more significant and important. However, the variation between each one is unknown. These are typically non-numeric concepts’ measures such as discomfort, happiness, and satisfaction. These can be easily remembered through the word ‘order’. The mode and median are the best when determining the central tendency is an ordinal data set (Moorhead, 2013).
Interval scales; there are numeric scales where the order as well as the exact variations between values is known. The statistical analysis realm on the data sets opens since the mean, median, statistical deviation, and mode can be calculated. These scales have no true zero and this makes it impossible to calculate the ratios (Moorhead, 2013). For instance, there is no time or no temperature. With the interval data, one can subtract and add but cannot divide or multiply. The key thing to remember in interval scales is the interval, which implies the space in between.
Ratio scales are acknowledged as the overall as far as the measurement scales are concerned. This is because they tell about the order, exact values between units, and possess an absolute zero that permits the application of a wide array of both inferential and descriptive statistics. Ratio scales also have a vivid definition of zero. Ratio scales offer a wealth of possibilities as far as statistical analysis is concerned. With these variables, it is possible to add, subtract, multiply, and divide. It is also possible to measure the mean, median, mode, coefficient of variation, and measures of dispersion (Ingham-Broomfield, 2008).
How statistics can be used in evidence-based practice
Recently, evidence-based practice has become very essential in healthcare. In this regard, there is a need for healthcare professionals to be aware with the practice, how to use it, and its significance in guarding patient safety. More specifically, the Obama Administration is dedicated to policy decisions that are guided by evidence. In this regard, there should be a greater promotion of statistics use as well as the statisticians’ role in making proper decisions that are founded on objective evidence. Evidence-based medicine refers to the explicit, conscientious, and judicious use of the current best evidence when making decisions on individual patient care. The practice of using evidence-based medicine implies integrating personal clinical experience with proper available clinical evidence from external sources (systemic research). In this regard, statistics is fundamental to the evidence-based medicine (Moorhead, 2013).
It is worth pointing out that that evidence-based practice emerges from the most recent evidence. This implies the deep connection between recent research and the decisions being made in the healthcare practice. The statistics that are used in the research form the foundation of the strategies that will be implemented as well as the decisions that will be made. In this regard, the statistics and data should be trustworthy. This brings in the aspect of validity and consistency of data. If possible, only statisticians should be allowed to handle the data so as to ensure that the right procedures are being followed and that the data collected is proper. As a result, the evidence-based practice becomes more productive and applicable (Coughlan, Cronin & Ryan, 2007).
References
Coughlan, M., Cronin, P., & Ryan, F. (2007). Step-by-step guide to critiquing research. Part 1: quantitative research. British Journal Of Nursing, (BJN), 16(11), 658–663.
Ingham-Broomfield, R. (2008). A nurses’ guide to the critical reading of research. Australian Journal of Advanced Nursing, 26(1), 102-109.
Moorhead, S. (2013). Nursing outcomes classification (NOC): Measurement of health outcomes. St. Louis, Mo: Elsevier/Mosby.
Section B
The PICOT format in clinical questions aims at ensuring that researchable and answerable questions are developed (Melnyk & Fineout-Overholt, 2011). P (patient population), I (issue of interest or intervention), C (comparison issue of interest or intervention), O (outcomes of interest), and T (the time needed for outcomes to be achieved in the intervention) (Giuliano & Polanowicz, 2008).
‘Adult clients who are admitted to the cardiac unit with congestive heart failure are more likely to develop nosocomial infections than other cardiac clients admitted to the cardiac unit.’
Variables
Other cardiac patients and congestive heart failure patients. There are also variables of the cardiac unit and nosocomial infections.
Each variable’s levels of measurement
Cardiac patients- ordinal
Congestive heart failure patients- ordinal
Cardiac unit- nominal
Nosocomial infections- ordinal
Statistical tests
Based on the fact that there are only ordinal and nominal levels of measurement, it is impossible to have statistical tests such as mean, mode, and median. Therefore, there are high chances that the study being conducted was qualitative where no kinds of inferential and statistical tests are required (Boswell, Boswell & Cannon, 2014). The Ch-square, Fisher’s exact, and Wilcoxon- Mann Whitney tests will be used since there are independent variables.
Basically, the use of PICOT questions when carrying out evidence-based practice is very use. This promotes the development of answerable and researchable questions. This ensures that the evidence gathered is more applicable in the practice (Aveyard & Sharp, 2013).
References
Aveyard, H., & Sharp, P. (2013). A Beginner’S Guide To Evidence-Based Practice In Health And Social Care. Maidenhead: McGraw-Hill Education.
Boswell, C., Boswell, C., & Cannon, S. (2014). Introduction to nursing research: Incorporating evidence-based practice. Burlington, MA: Jones & Bartlett Learning
Melnyk, B. M., & Fineout-Overholt, E. (2011). Evidence-based practice in nursing & healthcare: A guide to best practice. Philadelphia: Wolters Kluwer/Lippincott Williams & Wilkins.
We can write this or a similar paper for you! Simply fill the order form!
Observational Checklists in Qualitative Ethnology Study
Observational Checklists in Qualitative Ethnology Study
Order instruction
This week you will create an observational checklist, containing at least 10 items, to examine people within a social setting while completing a qualitative ethnology study. Using this observational checklist, complete an observational data collection by visiting a community venue, such as a shopping mall, a library, or college campus social area, in which people are readily seen in natural surroundings. Conduct a brief observational research study using your checklist. Consider how this experience differs from analyzing numbers when conducting quantitative research.
Please post your 10 item checklist along with your discussion.
Describe your experience of conducting a brief observation and the experience of this form of data collection.
Compare this experience with your data analysis experiences in biostatistics.
Summarize the strengths and limitations of each type of data collection.
Which method of data collection and analysis are you most comfortable with?
Note: Students are NOT allowed to approach/communicate with people for this assignment. The only method to be used is simply observing people in their natural environment and taking appropriate notes. Contact and communication with observed subjects may result in a violation of Walden IRB policies.
SAMPLE ANSWER
Observational Checklists in Qualitative Ethnology Study
The checklist
The level of friendliness and social interactions between the students
Expression of anger using facial expressions, sulking, crying, and complaining
Verbal or physical retaliation against offensive behavior and language
Attempts to evade or escape from the offended
The capacity of displaying humor
The level of positive mood
The capacity to empathize
The level of nonverbal interaction (Staples, 2013).
Level of rejection and neglect between students
Overt hostility and chronic aggression against the peers
It was very thrilling to conduct the brief observation. On the same note, I consider this kind of data collection to be very effective based on the fact that the participants are studied within the natural settings without their knowledge. Therefore, it is possible to gather original data regarding all their behavior (Staples, 2013). After the observation, it was easy to conclude that the student had many positive social interaction traits. There was a high level of positive mood, capacity to empathize, humor, nonverbal communication, and accepting others. If there were cases of offensive behavior and language, hostility or aggression, this was reported to the authority, which was very essential in promoting positive interactions.
When analyzing data using biostatistics, the measurement process is central since it offers the fundamental link between the mathematical expression and empirical observation. In this regard, narrow questions and gather numerical data (percentages and statistics) from participants. There is hope that the results are unbiased so as to allow generalization to larger populations.
Using qualitative ethnology study is inexpensive, simple, there is acquisition of first-hand information, and it is possible to deeply understand processes that surveys may not be able to. However, there are ethical challenges, potent observer effects, and relying on subjective measurement (Staples, 2013). With quantitative studies and biostatistics, a sample that is representative can be selected, the findings can be generalized, structural factors can be analyzed, the studies can be replicated using standardized approaches, and the extraneous variables’ effects can be controlled. However, it is impossible to gather data on sensitive topics, self-reported information from questionnaires may be inadequate, expensive, time-consuming, and inflexibility of the research methods. The qualitative ethnology methodology is more comfortable to work with based on its benefits and advantages.
Reference
Staples, J. (2013). The Interview: An Ethnographic Approach. London: Bloomsbury Publishing.
We can write this or a similar paper for you! Simply fill the order form!
for this paper it is critical to follow the instructions and properly elaborate on all the points requested most importantly to support your proposal with documentary evidence and research.
Is AOL inching towards becoming an Internet Bank?
In March 2004, America Online (AOL) launched a streamlined new service for online bill payment. No, it doesn’t yet provide the capability to pay online bills directly through AOL, but it does seem to be a step by AOL toward making that reality.
The service-called AOL Bill pay-is free to all AOL members and is provided through an alliance with Yodlee.com, Inc. (www.yodlee.com) , a company that provides a variety of online personal financial services. After AOL members sign up for the service, they will receive summaries of their online bills via AOL e-mail messages. The messages will include links directly to the business e-commerce websites where members can make their payments.
A nice feature of AOL bill pay is that it creates a single portal (the AOL account) with only one user ID and one password. Once inside his or her AOL account, an AOL member does not have to enter a new ID and password at any of the e-commerce websites.
AOL members can configure AOL bill pay to provide alerts in several different forms (Multichannel service delivery); e-mail, instant messaging, or a text-based message to cell phone. The system can trigger an alert that is more of a warning message when for example, an AOL member bank account balance drops below a certain limit or a credit card transaction exceeds a prespecified amount. It is AOL’s hope that its members will see these types of alerts and warnings as a value-added service.
AOL Bill Pay connects directly to 2,500 web sites that offer bill paying over the internet. If a certain AOL member makes payments over the internet. If a certain AOL member makes payments to a web site not on AOL Bill Pay’s list, AOL can easily add the website to the list.
Assignment questions
Write a 2 page minimum word document responding to this below;
The above case study implies that AOL is “inching” toward becoming an Internet bank. Based on your reading of the articles in the resources below, “The Impact of E-commerce Announcements on the Market Value of Firms” and “E-commerce Processes: A Study of Criticality,” what recommendations would you make to AOL management? What processes (and outcomes) would you advise them to expect?
• Then, consider the case of a small office supply company whose customers are local businesses. The company doesn’t have a big budget for IT, but does have a big need to be able to manage materials, delivery schedules, and build customer loyalty. Based upon your readings this week, would you recommend a B2B model of electronic commerce or instead extend the business by offering a B2C model? What critical factors would come into play in making this decision? Be sure to support your proposal with documentary evidence and research.
Resources. Articles
• Cullen, A. J. (2007). A model of B2B e-commerce, based on connectivity and purpose. International Journal of Operations & Production Management, 27(2). Retrieved from ABI/INFORM global database.
This article presents a comprehensive model by which electronic commerce transactions may be categorized.
• Subramani, M., & Walden, E. (2001). The impact of e-commerce announcements on the market value of firms. Information Systems Research, 12(2). Retrieved from ABI/INFORM Global database.
This study examines the impact on market value of B2B and B2C e-commerce announcements.
• Duffy, G., & Dale, B. G. (2002). E-commerce processes: A study of criticality. Industrial Management & Data Systems, 102(8/9). Retrieved from ABI/INFORM Global database.
This article examines ten processes critical to the success of an e-commerce engagement
Web Site
This article discusses the relationship between customer relationship management and the effectiveness of B2B and B2C companies in Germany.
Be sure to properly use the resources hear to respond to the questions in the paper, and also read the case study at the beginning before responding to the questions as it will play a critical rule in responding to this assignment.
SAMPLE ANSWER
Is AOL inching towards becoming an Internet Bank?
AOL is largely dependent on business to consumer model and studies show that the model’s cumulative return from investing in e-commerce is higher than for a business-to-business model (Subramani & Walden, 2001). It is thus very pertinent that AOL ensures high-level efficiency of its e-banking system to maximize its performance. AOL requires extensive advertising of its e-commerce services and increase consumer turnover for its services (Subramani & Walden, 2001). It is also important that AOL invest in service differentiation as a way of influencing prices and beating competitive forces that result from multiple companies offering similar digital services.
As a company in the process of developing an internet banking facility, AOL must expect to have strict revenue and expenditure controls through a financial control process. An e-commerce facility employs the use of decentralized order fulfillment of its financial services as well as call center operations and it is imperative that its monitors its payments and credit card clearance through a single financial system (Duffy & Dale, 2002). IT or web changes is another vital process that AOL must anticipate. It involves adjusting e-commerce plat forms promptly responding to threats and opportunities that arise in the business environment.
Prompt response ensures that customers remain satisfied with the e-commerce service and reduce the threat of a mass move to competitors that may have better e-commerce services and response to IT malfunctions (Duffy & Dale, 2002). AOL must also use a call center process to support its e-banking facility. The company may outsource of establish its own call center with round the clock operation and competence on the overall business scenario. It is also very important for the company to ensure a 24-hour sound operation of its website as customers may access it at any time (Duffy & Dale, 2002).
The small supply company that relies on a business-to-business model already requires expanding its model to incorporate a business to consumer model. Studies have shown that integration of e-commerce on attract higher revenues in business to consumer than business-to-business models. In this case, it is important for the company to explore the different types of B2B e-commerce models that would be easily integrated with interact directly with both businesses and consumers (Cullen & Webster, 2007).
It is necessary for the company to clearly understand how different B2B models such as individual trading, collaboration, marketplace, proprietary sales, private exchange aggregation, intranet, and restricted bid may affect its business performance. The different models present different connections serving different purposes to a supplier such as the potential to make large volume sales to an aggregate composed of buyer groups, or making small volume sales to unlimited individual buyers as provided by the individual trading model (Cullen & Webster, 2007). The individual trading model such as website presents the best avenue to tap into both B2B and B2C market for the small supply company.
It is also very important to factor in how to the small supply company intends to manage its relationships with its customers as part of its loyalty management. A customer relationship management system (CRM) is a crucial aspect of an e-commerce venture. It helps the business to analyze customer data and customize marketing initiatives to customers buying habits and preferences. It is essential for the company to focus more intently on valuable customers as a way of improving business performance (Schoder & Madeja, 2004). A CRM is necessary in allowing the company to effectively target its marketing practices to its existing customers and retain them in the long run (Chimote & Srivastava, 2011). It is because it is easier to sell to existing than to new customers.
References
Chimote, N. K., & Srivastava, A. (2011). A Study of the Effectiveness of Relationship Marketing Practices with Existsing Customers in Banaking Industry. Romanian Journal of Marketing, 6(4), 42-48.
Cullen, A., & Webster, M. (2007). A Model of B2B E-commerce Based on Connectivity and Purpose. International Journal of Operations & Production Management, 27(2), 205-226.
Duffy, G., & Dale, B. (2002). E-Commerce Processes: A Study of Criticality. Industrial Management+ Data Systems, 102(8/9), 432-441.
Schoder, D., & Madeja, N. (2004). Is Customer relationship Management A Success Factor in Electronic Commerce? Journal of Electronic Commerce Research, 5(1), 38-53.
Subramani, M., & Walden, E. (2001). The Impact of E-commerce Announcements on the Market Value of Firms. Information Systems Research, 12(2), 135-154.
We can write this or a similar paper for you! Simply fill the order form!
Combining assets to obtain a superior balance between risk and return
Combining assets to obtain a superior balance between risk and return
How an investor can combine different assets to obtain a superior balance between risk and return
Order instruction
We aim to improve your understanding of how, in theory, an investor can combine different assets to obtain a superior balance between risk and return, and how traded options (one of the most common forms of derivative) work. You will also apply what you have learned to comparing the relative merits of investment funds.
Hints: Part A
In Part A, Question 1 is designed to help you build up your understanding of Markowitz efficiency and portfolio theory. You will find it useful to look back at Online Unit 3 and Chapter 3.
In your answers to Questions 1c(ii) and 1d, you are recommended to first practise using the Portfolio segment of the Investment Tool by working through the teaching and activities in Online Unit 3. You need to consider data from both the Performance and the Risk/Return tabs in the Portfolio segment, and you are advised to try different combinations of the securities specified before deciding on your answer. You could use diagrams to illustrate your reasoning either by copying and pasting the relevant diagram(s) from the Investment Tool (the Investment Tool guidance instructs you how to do this) or, if you prefer, by making your own copy of the diagram(s) shown in the Investment Tool.
Question 2a requires you to briefly explain the type of option that best fits each objective and how this would work. For Question 2b, you are not expected to give precise calculations, but an answer could be illustrated with actual numbers if you wish. A similar example, for the alternative case of put options, is provided in Activity 4.3 of Online Unit 4.
Question 2c requires you to think about the profile of investors described in the extract (age, goals, life-stage, expertise). You may find it useful to refer back to some of the investment risks considered in Chapter 2 of the module textbook. You do not need to write long answers. Question 2d does not require you to use the extract but instead to use material in the module to provide some explanation about the wider risks of trading options and derivatives.
Hints: Part B
Question 3 requires you to write an essay that draws on the information provided in Table 2, showing that you have thought about what an investor might expect from investment funds. This essay should include definitions of the terms ‘active’ and ‘passive’, as well as comments and definitions of the different performance indicators; it should also describe how these relate to relevant theory, such as the Capital Asset Pricing Model.
Part A – Question 1 – 1000 Words
a. Explain what is meant by an efficient frontier in portfolio theory. (4 marks)
b. Briefly explain what would be the rationale for a tyre manufacturer, in a relatively wet country like the UK, to keep producing tyres that are needed in dry weather. (2 marks)
c. Gemma has just been given some shares in easyJet. She would initially like to combine these in a portfolio with another share.
i. If she has only the information in Table 1 available, identify which asset would be sensible to choose and why. (2 marks)
ii. Using the Investment Tool (Portfolio segment), calculate the optimal proportions of such shares in Gemma’s portfolio to minimise its risk. Report the risk and the expected annualised return of such a portfolio. (5 marks)
d. Gemma is not happy with this outcome and would like to use one of the shares in Table 1, in combination with easyJet, to construct a portfolio with a much greater expected return (above 20%) but a risk no greater than 5%. Using the Investment Tool (Portfolio segment), identify:
i. which of the four remaining shares would allow such a combination
ii. the minimum risk that can be achieved for this portfolio while still reaching an expected annualised return of at least 20%
iii. the proportion of easyJet shares in this new portfolio. (6 marks)
e. Briefly explain why Gemma would not adopt a stock-picking strategy, of the type described in 1c and 1d above, if she believed in the semi-strong form of the Efficient Markets Hypothesis? (6 marks)
Table 1: Correlation coefficients between monthly real returns
BSkyB
Glaxo
Diageo
Rolls-Royce
Tesco
easyJet
0.15
0.12
0.37
0.40
0.22
Question 2
Read the extract below and answer the following questions.
a. Briefly explain which options could be used by Mark Brisley and Evie Petrikkou to:
i. protect their portfolio of shares (3 marks)
ii. increase their income. (3 marks)
b. The last two paragraphs of the extract give an example of the potential gains and losses that can be made from issuing a call option. Explain how the potential loss per share would increase if the issuer of the call option no longer owned the shares. (7 marks)
c. Describe two risks of option trading for ‘do-it-yourself investors’: baby boomers such as those described in the extract. (6 marks)
d. Considering the entire market of derivatives, briefly explain how they could affect systemic risk. (6 marks)
New baby boomer hobby: trading options
After the financial crisis of 2008 hit their stock portfolio hard, Colorado Springs information technology contractor Mark Brisley and his wife Evie Petrikkou were worried. Casting about for a way to make up big losses, the two hit upon a strategy often considered the purview of Wall Street insiders: They could trade options.
Brisley began with the basics, buying and selling ‘puts’ – contracts that convey the right to sell a stock – to earn a little bit extra and protect the family portfolio from another debacle. Initially, he didn’t dabble in ‘calls’ – contracts that convey the right to buy a stock.
Now, five years later, he is a habitual trader who has embraced increasingly arcane options strategies. ‘We treat it almost like a business,’ says Brisley, 51.
Brisley may be the new typical options player – a do-it-yourself investor with a touch of gray. The average options trader now is 53 years old; 28 per cent of all options users are between the ages of 55 and 64, according to the Options Industry Council, a trade group. And those mom-and-pop enthusiasts have pushed trading volume up 16 per cent a year (by number of contracts) for the past decade, according to the Chicago-based OCC, the world’s largest equity derivatives clearing organization
When Fred Tomczyk, chief executive of brokerage firm TD Ameritrade, recently went to an investor education class on options trading, he noticed the crowd around him. ‘It was all people who look like me,’ Tomczyk, 58, told Reuters in a recent interview. ‘It was older people who are about to retire or just retired.’
Jared Levy, author of ‘Your Options Handbook’ and managing partner at Belpointe Alternative Investments in Greenwich, Connecticut, says it is no surprise that baby boomers are driving the options train. ‘A lot of the increasing volume has been coming from boomers with high net worth who have gained the ability to trade from home.’
But retirees should think twice before trading in their tennis rackets or bridge games for an options-trading hobby. Options are complex derivative instruments that may protect your portfolio and let you squeeze in some extra earnings – or cause you to lose your shirt and your pants along with your stock holdings.
Most share options allow traders in effect to place bets on the movement of share prices, and individual investors are notoriously bad about timing those bets in the first place. In fact, a recent analysis of more than 200,000 investors done for Reuters by online financial planning platform SigFig revealed that those who did not trade options thumped those who did. Investors who stayed away from options racked up 13.2 per cent in portfolio gains for the year ended June 25, while those who embraced the options trade lagged by 6 percentage points, with returns of 7.3 per cent.
In their basic form, options contracts are known as puts and calls. The buyer of a put has a right to sell the asset (like 100 shares of a stock or exchange-traded fund) at an agreed-on price. That could provide downside protection if the asset plummets in value. A call conveys the right to buy shares at an agreed-on price.
Say, for example, you own 100 shares of a company trading at $50 a share. You could sell a 90-day call at a $60-per-share strike price, for $200. If the stock goes down, you’ll keep the $200 and the call will expire. If the stock goes up to $58, you’ll keep the shares, the $200 and the $800 gain (on 100 shares). Again, the call will expire.
If the stock goes up to $75, you’ll keep the $200 and the $10 per-share gain between $50 and $60. But you’ll lose the extra $15 per share in gains because you’ll have to sell the stock at $60 a share – it will have been ‘called’.
Word limit Part B: 1000 words
Part b -Question 3
Compare the performance, risk and charges for the three funds reported in Table 2. To what extent might this data provide useful evidence to guide an investor in choosing between an active or passive approach to investing?
Table 2: Fund performance data
Fund
Type of fund
Annualised returns %
3-year data
OC (% pa)
1 year
3 year
5 year
Volatility
Alpha
Beta
Sharpe ratio
R-squared
Baillie Gifford UK Equity Alpha
Active
28.79
14.38
18.92
14.42
2.05
1.07
0.72
0.91
1.55
F&C UK Alpha
Active
10.96
2.14
12.83
13.44
–6.79
0.99
0.08
0.92
1.72
HSBC FTSE All-Share Tracker
Passive
23.22
10.52
15.29
13.19
–0.67
1.03
0.46
0.92
0.17
FTSE All-Share Index
22.20
10.63
16.94
Source: www.trustnet.com and www.morningstar.co.uk (Accessed 29 October 2013)
Notes: OC stands for ongoing charges. HSBC FTSE All-Share Tracker tracks the FTSE All-Share Index.
Annualised total returns are calculated per annum on the bid price of 29 October over the respective period of 1 year, 3 years and 5 years (with net income reinvested).
SAMPLE ANSWER
Combining assets to obtain a superior balance between risk and return
Introduction
Correlation coefficient is applied when analyzing different types of stocks and asset behavior. Asset correlation in personal investing guards against exposure to excessive risks. It however doesn’t account for the reasons, causes or effect of the risks. (Markowitz 2009)
1a. Efficient frontier in the portfolio theory
It’s a theory in modern portfolio management that was initiated by Markowitz and it involves various combination of assets or portfolio in a way that brings out the best level of expected returns in an efficient way considering its level of risks. The standard deviation of the asset returns is plotted against the portfolios expected return which is obtained against the tangent of a risk free rate. The part of the hyperbola that represents the opportunity with the highest amount of expected return for a particular level of risk is known as the efficient frontier. (Elton & Gruber 2011)
1b. The rationale would be that the tyre manufacturer basically produces enough tyre for the UK market and also enough for export to other countries that would have a different kind of weather some may be dry. UK tyre manufacturer would have to satisfy even the markets that require the tyres that are needed in dry weather.
1c. i) The best assets would be Rolls-Royce and BSkyB stock. The stock represents very high returns but the risks are also high. The relationship that exists between the above stocks and the gains in the FTSE are very strong and positive relationship with the portfolio. For example a positive relationship shows a positive gain in the FTSE and the portfolios while a negative correlation coefficient shows that could actually lose some portfolio value as the FTSE gain gains value.
1c. ii) investors prefer investments with higher returns as well as investments with low risks. The best option is to select the most suitable and profitable option from the efficient frontier. The best way to point out the best option is by evaluating the indifference curves which represent the preference of the investors on different combination of risks and returns.
Optimal Performance calculations of EasyJet
Easyjet
Glaxo
Port
BSkyB
Port
Diageo
Port
Expected Val mon %
2.32
0.30
1.31
1.22
1.77
1.07
1.70
Expected Ret (ann %)
31.72
3.60
16.89
15.72
23.48
13.60
22.35
Variance
71.50
22.94
26.04
45.54
33.43
16.01
28.12
STD %
8.46
4.79
5.10
6.75
5.78
4.00
5.30
5 yrs Beta
0.86
0.45
0.65
0.49
0.67
0.52
0.69
5 yr Alpha %
27.20
0.42
13.04
12.42
19.57
10.20
18.39
5 yr Sharpe ratio
3.55
0.40
2.98
2.08
3.77
2.98
3.90
5 yr total return
222.44
11.51
102.10
81.98
160.65
80.28
152.56
HSBC
port
Roll Ro
Port
Tesco
Port
Expected Val mon %
0.17
1.25
1.95
2.14
-0.18
1.07
Expected Ret (ann %)
2.10
16.05
26.06
28.86
-2.11
13.66
Variance
37.17
31.31
36.96
37.50
37.31
32.78
STD %
6.10
5.60
6.08
6.12
6.11
5.73
5 yrs Beta
0.26
0.56
0.91
0.88
0.73
0.79
5 yr Alpha %
-0.43
12.52
21.38
24.26
-6.22
9.34
5 yr Sharpe ratio
0.07
2.57
4.01
4.44
-0.06
2.09
5 yr total return
-0.78
92.07
186.51
219.17
-19.70
72.23
The minimum risk is 5%
1d. i) Diageo
Expected returns
Risks
Tesco
14%
6%
Rolls Royce
29%
6%
HSBC
15%
5.50%
Glaxo
17%
5%
Easy jet
31.72%
8.46%
Diageo
22.35%
5.30%
BSkyB
23%
5.78%
1d. ii) 5.3%
1d. iii) The proportion of Easyjet shares would be 50%.
1e. The lowest standard deviation and the average return of the portfolio and the capital allocation line gives the Sharpe ratio. The optimal portfolio balance is usually where the line’s slope is highest.
2a. i) The major challenge in the management of investment is basically the choosing of a convenient and appropriate investment while also designing a particular unit that will meet the expectation and the objective of the investor while also considering his constraints. These constraints could be the liquidity, need for regular monthly or periodical income, age, the risk tolerance or even the tax liability. Investments can be classified broadly as financial or real investments while financial investment can be further classified as fixed income or variable income investments.
To protect their shares portfolio, Mr. Mark Brisley and EviePetrikkou should sell a call that’s covered. For example, if they owned 100 or more shares that they intended to sell as stock (writes) that’s a call option. The buyer of the option would pay a premium so as to gain the right to buy the 100 shares at an agreed price known as the strike price for a certain limited time that’s until the options expire. If the stock’s value appreciates the option owner gains otherwise all the gains would have all ended up with the stockholder. The cash ensures protection from the stock price devaluation. They can also protect their shares portfolio by buying puts. For example during the 2008 economic crisis, the value of puts would generally have increased as the stock’s value deteriorated. The put owners have a right to sell their shares at the agreed strike price. The main advantage of buying puts is that the losses are mostly limited. The owner is allowed to pick a strike price that can match the risk tolerance and the minimum selling price is also guaranteed. The value of the portfolio cannot be allowed to fall beyond a certain amount. The other alternative is to replace all the stocks with options.
2a. ii) They can increase their chances of getting more income by taking options with a longer period of time that the option can be exercised.
2b) The potential loss per share would increase if the value of the shares reduces to 45 per share or less. After buying the options for 50 per share, the potential loss would increase to 5 per share which will culminate to a loss 500 for the 100 shares excluding the 200 premium.
2c) The risks in the extract can be analyzed from two approaches, the sellers and the buyers. When a trader purchases an asset that has a three months expiration and within that period the potential stock remains at a price that is lower than its original purchase price, then the risk of getting losses is inevitable.
The sellers also incur losses as there are some options that have unlimited risks or possibility of ending up in losses which largely depend on the movement of the potential stock. There are instances where the sellers are under obligation to sell even when the trading is not profitable.
Risks are inherent to any form of trading as the higher the risk the higher the profits.
2d) Derivatives have contributed largely to the need of increased risk management procedures. Derivatives have to led to the growth of the financial economy which had been preceded by the production economy in the late 1960,s and early years of 1970’s. (Ciner 2006)
Derivatives can affect systematic risks as its nature and implication go beyond the realms of the entire financial economy, social and also political framework of most economies. (Dodd 2005) This is possible as derivatives do not affect the underlying asset but only the price change of the asset which predisposes the assets to wide range of systematic risks. (Williams 2010) With increased innovations derivatives have evolved into new forms which have created cross-linkages in different asset valuation and price changes through different forms of automated digital platforms like swaps. (Blackburn 2008) Swaps provide the means and capacity to exchange one asset risk which is in a different class to another without actually gaining ownership of any asset with the investors. Such innovation has increased systematic risks that are associated with different forms of derivatives and has contributed to the interdependency of several different assets and their relative price changes. (Zeyu, Podobnik, Feng and Baowen 2012) Instability in only one class of a certain assets can cause a very widespread effect on the systematic stability several other related assets hence create a complex manifestation of associated risk in a financial economy. (Brownlees, Engle 2010)
3b) Alpha is also known as the Jensen index and it measures the risk adjusted return of an equity security while beta measures the volatility of the security as compared to its benchmark index. It basically indicates the securities or the stocks ability to gain value and it’s based on the company’s rate of earnings growth. Volatility measures the riskiness of a particular stock compared to the market. R-squared determines the exact proportion of a stock or security’s return. The F&C r-squared of 0.92 indicates that 92% of the returns of the security are basically due to the gains in the market while 8% is due to other factors related to the security. Sharpe ratio compares the overall relationship of risks and related rewards while exploring different investment strategies. Its Sharpe ratio is 0.08 or 8% and it’s the most risky security among the three as its ratio is the lowest. A higher ratio indicates a less risky investment. The F & C beta of 0.99 shows that the market has similar risks as the security while the r squared of 0.92 indicates that the bench mark index is almost wholly determined by the portfolio’s performance. It’s very high and it’s also referred to as the coefficient of determination. The volatility for F & C shows that its lower than 50% hence its acceptable as the beta is also close to 1.
The Baillie r-squared of 0.91 indicates that 91% of the returns of the security are basically due to the gains in the market while 8% is due to other factors related to the security. Sharpe ratio compares the overall relationship of risks and related rewards while exploring different investment strategies. Its Sharpe ratio is 0.72 or 72% which is the best among all the portfolio and it’s the safest to invest in as it’s less risky than all the rest of the securities. A higher ratio indicates a less risky investment. The Baillie beta of 1.07 shows that the market has similar risks as the security while the r squared of 0.91 indicates that the bench mark index is almost wholly determined by the portfolio’s performance. The volatility for Baillie shows that it’s lower than 50% hence it’s acceptable as the beta is also close to 1. (Elton & Gruber 2011)
The HSBC r-squared of 0.92 indicates that 92% of the returns of the security are basically due to the gains in the market while 8% is due to other factors related to the security. Sharpe ratio compares the overall relationship of risks and related rewards while exploring different investment strategies. The 0.46 or 46% shape ratio indicates that its return is risky. A higher ratio indicates a less risky investment. The HSBC beta of 1.03 shows that the market has similar risks as the security while the r squared of 0.92 indicates that the bench mark index is almost wholly determined by the portfolio’s performance. The volatility for Baillie shows that it’s lower than 50% hence it’s acceptable as the beta is also close to 1.
Reference
Brownlees, C.T., Engle, R.F., 2010. Volatility, correlation and tails for systemic risk measurement,
Blackburn, R., 2008, The Subprime Crisis, New Left Review, 50 Mar- Apr 2008.
Ciner, C., 2006, Hedging and Speculation in Derivatives Markets: the Case of Energy Future Contracts, Applied Financial Economics letters, 2, 189-192
Dodd, R., 2005, Derivatives Markets: Sources of Vulnerability in US Financial markets, In Gerald A. Epstein (Ed) Financialization and the World Economy, Edward Elgar: Cheltenham
Gray, D. F. and Andreas A. J., 2011, “Modeling Systemic and Sovereign Risk,” in: Berd, Arthur (ed.) Lessons from the Financial Crisis (London: RISK Books), pp. 143–85.
Markowitz, H.M., 2009, Harry Markowitz: Selected Works. World Scientific-Nobel Laureate Series: Vol. 1. Hackensack, New Jersey: World Scientific. p. 716
Zeyu, Z., Podobnik, B., Feng, L. and Baowen L., 2012, “Changes in Cross-Correlations as an Indicator for Systemic Risk” (Scientific Reports 2: 888 (2012))
We can write this or a similar paper for you! Simply fill the order form!
It is important to take note of the community health promotion proposal which is (Obesity in Washington DC). and a minimum of 3 pages is require and you must follow proper guidelines for written an annotated bibliography .
This assignment gives you the skills and knowledge to begin collecting credible information needed for future assignments and experience with APA citation by creating your own annotated bibliography.
Annotations vary, and for this assignment, your annotations should provide a(n):
Summary of the book, article, white paper, web-site, or other resource
Evaluation of resource
Application to your community health proposal (Obesity in Washington DC).
Assignment Requirements
1. Annotate TEN sources.
a. at least five sources must be scholarly (peer-reviewed, evidence-based)
b. Three articles from professional and credible websites (i.e. NIH, CDC, etc.)
c. remaining two sources is your personal choice, although they must be credible
2. The articles should support your community health promotion proposal (Obesity in Washington DC).
SAMPLE ANSWER
Annotated Bibliography
Introduction
The following exercise entails the annotation or brief description of literature sources that discuss obesity in Washington DC. Majority of these sources are from peer-reviewed journals while others are from the websites of healthcare-oriented organizations’ websites.
Young, L. R., & Nestle, M. (2002). The contribution of expanding portion sizes to the US obesity epidemic. American journal of public health, 92(2), 246-249.
This article discusses the connection that exists between portion sizes of commercial food outlets and the rise in cases of obesity and overweight in the country. The gradual increase in the quantity of food provided in the market began in the 1970s and this went on until the level recommended by the Federal government was increased. The authors further propose that eating out needs to be prioritized as a sensitization area in the event of any community based intervention strategies.
Davidson, M. H., Hauptman, J., DiGirolamo, M., Foreyt, J. P., Halsted, C. H., Heber, D., … & Heymsfield, S. B. (1999). Weight control and risk factor reduction in obese subjects treated for 2 years with orlistat: a randomized controlled trial. Jama, 281(3), 235-242.
The article is based on the scientific fact of excess weight and or obesity being a risk factor for many cardio vascular conditions. What was established from the study conducted was that the weight-related risk factors for these health conditions could be reduced and even eliminated through weight loss.
This is a document that Graphically illustrates the different dynamics of Childhood Obesity across the United States of America. With regard to Washington DC, the document indicates a drop in the prevalence rates from what they were in 2003. The document also states that Washington DC ranked as number 43 in terms of overall prevalence of childhood obesity. With regard to low income children who reside in Washington DC aged above two years but under five years, 24% of this group were considered to be obese.
Gillum, R. F. (1987). The association of body fat distribution with hypertension, hypertensive heart disease, coronary heart disease, diabetes and cardiovascular risk factors in men and women aged 18–79 years. Journal of chronic diseases, 40(5), 421-428.
This article was not exclusively focused on Washington DC. The status of this city as a cosmopolitan area however made its statistics on obesity useful for purposes on this study. It was established that across the age groups, symptoms of obesity and other cardiovascular diseases were affected by ethnicity and gender with African Americans having a higher propensity to these illnesses when compared to whites. The key symptom that was used as a parameter was high blood pressure since it is manifested in most if not all of these illnesses.
This article published online discusses the participation of the first lady, Michelle Obama and how this initiative being run from her office needs to be guided by the Obesity report that reveals the areas that need urgent attention as well as the neighborhoods where the condition is generally better managed.
Drewnowski, A., & Specter, S. E. (2004). Poverty and obesity: the role of energy density and energy costs. The American journal of clinical nutrition, 79(1), 6-16.
This article was derived from the results of a study that was conducted to investigate the relationship between levels of wealth and the control of obesity. The hypothesis that was in application during the study was that higher rates of obesity were generally being reported in populations whose members had lower education and higher poverty. This led to a disparity in healthcare between the rich and the poor. The study established that the rise in incidences of obesity resulted from an increase in people whose disposable income only allowed them to spend less and less on quality food, instead buying more of high fat, high sugar foods.
This webpage summarizes the statistics on obesity and how the three main age groups are affected by it. These age groups are adults aged 18 and above, adolescents who are in between the grades 9 through to 12 and also Children. The statistics for overweight and obesity indicate that this problem increases gradually with age and of the two, obesity sharply increases between adolescence and adulthood.
The material presented in this webpage discusses childhood obesity with an emphasis on strategies that can be used to prevent it. The main strategy of providing dietary advice to the young as well as their parents is also explained. This is followed by the listing and brief description of the different initiatives that this office has kick- started.
McCann, B. A., & Ewing, R. (2003). Measuring the health effects of sprawl: A national analysis of physical activity, obesity and chronic disease.
This is an article that was published following a research study that sought to find out if there was a difference in the state of health of people who lived in urban areas and those who lived in sprawls at the time of the interview. The study too into account the amount of walking people from the respective groups undertook. It was established from this study that those who lived in sprawls generally had worse health records based on their weight and blood pressure. They had more weight and higher blood pressure. The study also found that those in urban areas walked more than those who lived in the sprawls. This was mainly due to the fact that they did less walking in general. Urban dwellers walked for exercise, to work as well as for daily errands. The study however found no correlation between these living conditions and diabetes and this was then hypothesized to be the because of the influence of heredity.
Since the National Institute of Health has been researching on obesity for several years, it remains with an important cache of literature in the form of research studies, articles and also meetings by experts in this condition. This page contains links to the findings and discussions of these sources of information on obesity.
We can write this or a similar paper for you! Simply fill the order form!
