Question

b- You are designing a research project to study how UK households make financial decisions and...

b- You are designing a research project to study how UK households make
financial decisions and construct their financial portfolios. Given the
unavailability of relevant data in official statistics, what would be your
sampling strategy? Explain your argument. Is this a qualitative or
quantitative project?


c- Are there any ethical issues arising in this research?

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Answer #1

b) My strategy would be to conduct a survey of several UK households. Find our average monthly income of each. Find out which category of items (groceries/medical/entertainment/etc) have what kind of spending (in amounts).

For each month, we conduct a category wise spending pattern for each family across different families. Sampling strategy would be to choose randomly from a population of families who are ready for the survey. This is a quantitative project.

c) There are no ethical issues arising in this research as far as I can see.

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