Ramsey's Regression Specification Error Test, or Ramsey's RESET Test, is often used to test for functional form misspecification in regression models. A model suffers from functional form misspecification when we…
The Vector Autoregression or VAR model is an essential tool in time series analysis. It is an extension of the univariate autoregressive models and can incorporate multiple time series variables,…
Systematic sampling is a probability sampling technique where sample units are chosen at fixed intervals. Moreover, this interval is usually determined by dividing the population size by the desired sample…
Cluster sampling is a probability sampling method that divides a large population into smaller groups known as clusters. This technique is widely used in statistical sampling in various fields, including…
Stratified sampling divides a population into smaller subgroups, known as strata, to capture key characteristics. This method is vital in research and also helps in reducing bias and ensuring each…
Simple random sampling stands out as a key method to ensure the representativeness of samples. This technique involves selecting a sample from a population where every member has an equal…
Quota sampling is a non-probability sampling method for gathering data from specific subgroups of a population. This approach involves selecting participants based on predetermined characteristics, such as age, gender, or…
Convenience sampling is a prevalent non-probability sampling technique. It involves selecting participants based on their accessibility and availability to the researcher. As a result, it is often employed when other…
Snowball sampling is a non-probability sampling method employed for accessing hard-to-reach populations or sensitive topics. It leverages the connections of initial participants to recruit further subjects, creating a "snowball" effect.…
Purposive sampling is a sampling technique that selects specific groups for in-depth analysis. It allows researchers to concentrate on particular areas of interest, gathering detailed data on those topics. Hence,…
Non-probability sampling methods involve selecting units from a population through subjective means, often necessary when random sampling is impractical. As a result, this approach excels in uncovering in-depth insights into…
Probability sampling methods ensure each population member has an equal chance of selection. This approach is vital for achieving accurate and unbiased research outcomes because it is essential for obtaining…
Sampling methods in research are used to choose a representative sample from a larger population. There are various types of sampling methods including probability and non-probability sampling methods. As a…
Panel data analysis combines the strengths of time series and cross-sectional data, enabling a deeper understanding of complex phenomena. Hence, it involves repeated measurements of the same variables across different…
Rostow's Stages of Economic Growth focuses on how a traditional society transitions into a modern economy. Rostow's model delineates five distinct stages: traditional society, preconditions for take-off, take-off, drive to…
