Qualitative Methods

Qualitative Methods

In the social sciences, quantitative research refers to the systematic empirical investigation of quantitative properties and phenomena and their relationships. The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena. The process of measurement is central to quantitative research because it provides the fundamental connection between empirical observation and mathematical expression of quantitative relationships.

Quantitative research is used widely in social sciences such as sociology, anthropology, and political science. Research in mathematical sciences such as physics is also 'quantitative' by definition, though this use of the term differs in context. In the social sciences, the term relates to empirical methods, originating in both philosophical positivism and the history of statistics, which contrast qualitative research methods.

Qualitative methods produce information only on the particular cases studied, and any more general conclusions are only hypotheses. Quantitative methods can be used to verify, which of such hypotheses are true.

A comprehensive analysis of 1274 articles published in the top two American sociology journals between 1935 and 2005 found that roughly two thirds of these articles used quantitative methods[1].

1) George & Jim were brothers who were each left a will inheritance of $20,000.  George invested his money in an account for 5 years at an annual interest rate of 6.0% compounded quarterly.  Jim invested his money for 5 years at an annual simple interest rate of 6.75%.  At the end of that time they agreed to poor their accumulated principals into one account for a further 5 years with an annual interest rate of 5.0% compounded monthly.

 

a) How much accumulated principal did George and Jim each have after 5 years?  Hence, determine how much money they had to pool.

 

b)  What was the accumulated principal of their money at the end of the 10-year period?

 

c)  In exercise (b), when George and Jim received their inheritance, the executor of the will suggested that they pool their resources immediately for 10 years and invest in an account that paid an annual interest rate of 6.75% compounded monthly.  In view of your answer (b), should they have taken this advice?  Explain.

 

2) A cricket team decide to purchase a house where they can hold their functions near their oval.  They take out a mortgage of $120,000 from the Ruptcy Bank, which charges on annual interest rate of 5%, compounded semi-annually over 10 years.

 

a)  What payments will the team have to make every 6 months on this loan?

 

b)  What is the total amount of interest they will pay?

 

3) In Exercise 2, the rival Fleece Finance offers the cricket team a loan for which it will charge on annual interest rate of 4.8% compounded monthly over 10 years.

 

a)  What payments will the team have to make every month on this loan?

 

b) What is the total amount of interest they will pay?

Qualitative language, that is language that is not quantifiable and thus dwells in the realm of the sort of academic criticism and research "that produces findings not arrived at by means of statistical procedures or other means of quantification," ...