Preparing to Conduct Business Research Res/351 Essays

1489 Words Dec 17th, 2012 6 Pages
Preparing to Conduct Business RES/351 Preparing To Conduct Business In recent news, Bank of America publically announced its plan to make changes to debit card customer accounts in 2012 (Chang, 2011, NBC San Diego). To date, Bank of America has a “fee-free” policy on these types of accounts however; new regulations on debit card accounts are a hindrance to the Bank’s ability to maximize return on investments. As a result the bank is considering implementing a surcharge on checking accounts. However, the bank must determine if this will affect the attitudes and behaviors of customers. To achieve this, Bank of America must conduct business research. The …show more content…
Surveying Bank of America customers to discover a linkage between attitude and behavior. |

Ethics and Sampling To ensure the results of the research are ethical and valid a proper sample design is necessary. A sample design consists of methods, sample frame, and sample size. The convenience sampling method will be most appropriate for Bank of America’s research as it will save time and money. The goal of the sample is to find what is most important to customers and if they would be willing to pay increased fees. Bank of America will have access to every one of their customers by way of banking or ATMs. Surveys can be assigned to ATMs, or handed out at Bank of America locations as customers arrive for their day-to-day banking needs. These samplings will be random. Probability sampling, based on random selection, ensures each population element is a known nonzero chance of selection. This provides estimations of precision and offers an opportunity for generalized findings to the population of interest from the sample population. Thus Bank of America can both conveniently and randomly survey customers. In addition to improving the validity of the sample, convenient randomized sampling promotes good
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