Solved Assignment MS-95 JAN JUNE 2017

Course Code MS - 95 Course Title Research Methodology for Management Decisions

Assignment Code MS-95/TMA/SEM - I/2016 Assignment Coverage All Blocks

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School of Management Studies

INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068

1. A social scientist sampled 140 people and classified them according to income level and whether or not they played a state lottery in the last month. The sample information is reported below. Is it reasonable to conclude that playing the lottery is related to income level? Use the .05 significance level.

Income Low Middle High Total Played 46 28 21 95 Did not play 14 12 19 45 Total 60 40 40 140

Step by step procedure of testing of hypothesis about association between these two variables is described, below.

Step1: : There is no ------------------------------------------------------------------------------------- the lottery. : There is -------------------------------------------------------------------------------- the lottery.

Step2: Level of --------------------------------------------------------------------

Step 3: Test statistics ---------------------------------------------------------

Step 4: Critical Region: Tabular --------------------------------------------- ----------------------------------------------------------------------------- is 5.991.

Step 5: Decision As calculated Chi------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- that there is relationship between income level and playing the lottery.

Note that there are several types of chi--------------------------------------------------------------------------------------------------------------------------------------------------------------------------and also the hypothesis being tested. (a) What is this table called? This table is called ------------------------------------------------------------- table. (b) State the null hypothesis and the alternate hypothesis. H0 : There is no --------------------------------------------------------------------------- the lottery. ----------------------------------------------------------- income and whether the person played the lottery.

(c) What is the decision rule? Rejected ----------------------------------------------------------------------- than 5.991 (d) Determine the value of chi-square. --------------------------------------------------------------------------- ----------------------------------------------------------------------------- --------------------------------------------------------------------------- ----------------------------------------------------------------------------- --------------------------------------------------------------------------- ----------------------------------------------------------------------------- --------------------------------------------------------------------------- ----------------------------------------------------------------------------- (e) Make a decision on the null hypothesis. Interpret the result. ----------------------------------------------- income level and playing --------------------------------------------------------.

2. What is of more value to the corporate world –basic, fundamental, or applied research? Justify your reasoning! Fundamental research, also known as basic research or pure research does not usually generate findings that have immediate applications in a practical --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- to the academic body of knowledge in the research area.

Fundamental studies tend to make generalizations about the phenomenon, and the philosophy of this type of studies can be explained as ‘gathering -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the pool of fundamental knowledge in the research area.

Opposite to ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- practical implications.

Differences between Fundamental and Applied Research

Differences between applied and -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------other variables are in constant change, whereas applied research seeks generalizations and -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------purpose and context:

Fundamental --------------------------------------- ----------------------- research

--------------------

Expand -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------rocess and its relationship to outcomes Findings of significance and value to society in general

Improve understanding of -------------------------- problem Results --------------------------------------------------- -------------------------- limited to problem Findings of ------------------------------------------------------------------------------------------ to manager(s) in organization(s)

---------------

-------------------------------------------- in universities

Choice of topic ------------------------------ by the researcher

----------------------------------- time scales

Undertaken by ------------------------------------------------------------------------------ including organizations and universities

----------------------------------------- with originator

Tight ------------------------------------------------

Differences between fundamental and applied research

It is important to note that although -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, as well as, generating solutions to practical problems. For example, a study entitled “A critical assessment of the role of -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------be used to increase the levels of effectiveness of management-employee communications, thus resulting in practical implications.

Examples of Fundamental Research

The following are examples for fundamental research:

A study into the ------------------------------------------------------------------------ crisis of 2007 – 2008 An investigation into the ---------------------------------------------------- branding A critical analysis of ------------------------------------------------------- product life cycle An assessment of factors --------------------------------------------------- China subsidiary…

A common question that researchers get -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------basic (fundamental) and applied research.

Basic research is curiosity driven. It is -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------or how questions and increase understanding of fundamental principles. Basic research does not ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- or a solution to a practical problem.

Applied research is designed to -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in the form of products, procedures or services.

Fundamental research answers the initial question of how things work. This fundamental knowledge is then used by applied scientists and engineers, for example, to -----------------------------------------------------------------------------------------------------------------------------------------------------to answer new fundamental questions. It is an important cycle for advancement.

Basic Research Vs Applied Research: How can we set priorities and what should the sensible ratio of resource allocation for both types of research be? Pressing problems resulting from global -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, which is often thought of as targeting solving specific problems

from a utilitarian point of view. Owing to -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------tower'. However, most scientists believe that a fundamental understanding of science is essential to lay down the foundation for applied science. Basic research is sometimes blamed for not -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in basic research actually saves money in the long run by promoting the exploration of new important scientific -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to develop from basic research. If we only did applied research, we would still be making better -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------people's needs, and providing quick solutions to present day's problems, how can we set priorities and -------------------------------------------------------------------------and applied research be? In recent time the researchers have taken ----------------------------------------------------------------------------------------------------------------------------------------------------------------it properly, in educational reforms, and also control social behaviour. As it is the age of science and ------------------------------------------------------ in social science as well. The many rapid technology changes have -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and rapidly changing society. To put in brief, Educational Research is that ------------------------------------------------------------------------------------------------------------------------------------------------that will permit the educator to achieve the goods by the most effective method. For its progress the researcher -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------form new hypothesis for the future. Research in education is very -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, better curriculum, better methods of teaching, better school administration, organisation and supervision and above all a better understanding of the world in which we live. A well-planned and well-executed educational ------------------------------------------------------------------------------------------------------------------------------------------------------------------ a lot of frustration and leads us to the path of progress.

3. Distinguish between secondary and primary methods of data collection. Is it possible to use secondary data methods as substitutes of primary methods? Justify your answer with suitable illustrations. The difference between ----------------------------------------------------------- as follows.

Following points distinguish primary and secondary data:

1. Meaning, example, and definition Primary data are fresh (new) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. It is collected systematically from its place or source of origin by the researcher himself or his appointed agents. It is obtained -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------with any domain of choice or sphere of interest. Once it is used up for any required purpose, its original character is lost, and it turns into secondary data.

One must note that, even if the data is -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------used it turns into secondary data.

Imagine you are visiting an -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, is an example of primary data collection. Secondary data, on the -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------it is also called second-hand data. It is a ready-made, quantitative information obtained mostly from different published sources like -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------by a subject scholar or an organization, government agency, etc.). It is readily available to a researcher at his desk or place of work.

Assume, you are preparing a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------data collection. 2. Data's originality Primary data are collected by a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------secondary data from already existing works of others. These are neither originals nor unique information.

3. Need of adjustment The primary data collection is done to -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------purpose of an inquiry. Secondary data collected are truly the work of someone else done for some other purposes. It is not focused to meet -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------adjustment, it can be accustomed to some extend for achieving the aim of a researcher.

4. Type of data Primary data provide qualitative data. It -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------or inquiry. On the contrary, secondary data, provide quantitative data. In other words, it gives information about an object or event in a numerical, statistical and tabulated form like in percentages, lists, tables, etc.

5. ------------------------- reliability Primary data are more reliable than -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------errors or discrepancies and may even contain out-dated information. Secondary data are less reliable than primary data. It is -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------always confirmed accurately as all references used may not be available or mentioned in detail.

8. The time consumed Reliability of primary data comes at the expense of -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------). Then he prepares a questionnaire (i.e. containing a set of questions to be asked to respondents). --------------------------------------------------------------------------------------------------------------------------------- supposed to interview the respondents. Finally, the researcher has to analyze -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. On the contrary, collection of secondary data consumes less time compared to primary data. It is because secondary data -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------published sources (see the point no.4). He depends

on already analyzed and concluded data by -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------his precious work hours, and, as a result, it takes him less time to collect secondary data. 9. Need of investigator Collection of primary data needs -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and cost involved in hiring them is a problem, then in such a case, secondary methods of data collection are recommended. Its data collection doesn't need to hire them. 10. Cost ------------------- Primary data collection needs the appointment of -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to be allocated to complete research work on time. For this reason, it is a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, it is very economical.

11. When are ------------------------? Collection of primary data starts -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------from secondary sources, is inadequate, only then decides to collect primary data. The secondary data collection is the priority and -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------some information is unavailable only then a decision to conduct primary research is taken. 12. Capability to ------------------------ Primary data are fresh (new), original (unique), more accurate (almost correct), verified (confirmed), satisfies a requirement (as needed), up-to-date and current -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------less accurate or riddled with errors or discrepancies, not directly related (-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------a problem. 13. Suitability ----------------------- requirement Primary data are suitable -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------requirement of a researcher. 14. Bias ------------------------ prejudice There is a possibility of -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------absent in secondary data because the information is not collected at first hand and, for this reason, is not subjected to any bias. 15. Who ----------------------------- A researcher (an investigator) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- secondary data. 16. Precaution ------------------- the data The primary data collection is done systematically -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the obtained information. It is less likely that such a well-processed data is subject to errors. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------different purposes may be inconsistent (not as required), outdated, unverified, subjected to any errors or mistakes, etc.

As a result, immense care must be taken -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to a great extent. Conclusion We can conclude that any data remain data, whether termed as a primary or secondary. What classifies it from one another is the degree of detachment from its source and how it is being collected (whether as -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------is used later by the rest of the world. For example, data collected by an election commission are primary for it, and the same set of data is secondary for all except it.

Secondary ---------------------------------------- of primary methods

Secondary data might --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The process has already happened, or the data was collected for a different purpose.

Primary data is -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------primary data by obtaining a large number of rats and conducting experiments on them in a laboratory. You might then organize and analyze --------------------------------------. Your work would be considered primary research.

A common example of experimentation is price -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------on the product and market segment, price may be the most important factor. How do you know what price is the right price? You have to test it. Many companies will test certain prices when collecting primary data on a new menu item -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Big Mac, looking for that magic number that will provide the most sales and the most profit.

4. What is a systematic sample? How is it selected? What are the advantages and disadvantages of a systematic sample? Systematic sampling is a random sampling technique which is frequently chosen by researchers for its simplicity and its periodic quality. In systematic ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------subject from the list.

The procedure involved in ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------for every n'th individual, which is highly unlikely.

The process of ---------------------------------------------------------------------------------------------------- arithmetic progression.

1. Starting number: The --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- the first subject.

2. Interval: The ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- The integer is ----------------------------------------------- correct sample size

For example, the ---------------------------------------------------------------------------. He first picks his starting number, 5.

Then the researcher picks his interval, 8. The members ----------------------------------------------------- 53, 61, 69, 77, 85, 93.

Other researchers use a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------sample size to obtain the sampling fraction. The sampling fraction is then used as the constant difference between subjects.

Suppose you -------------------------------------------------------------------- lined up in a row:

1 2 --------------------------------------------------------------------------------- 11 12

Here we might take a sample every 4 elements, ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------11), (4, 8, 12).

To sample systematically ------------------------------------------------------------------------ example:

There are four ------------------------------------------------------------------------), (6, 8, 14, 16).

How do we ------------------------------------------------------------- sample? Application of Systematic Sampling: an Example

You can ------------------------------------------------------------------- the following manner:

1. Label each member ------------------------------------------------- identification number (ID).

2. Calculate the sampling ------------------------------------------------------------ number of the population:

The sampling fraction result is guidance for applying systematic sampling. For example, if your sampling fraction is equal to 1/5, you will need to -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------sizes, you can round your population to the nearest 10 or 100.

3. The first sample has to be chosen in a random manner. It is important to select the first sample randomly to ensure probability sampling aspect of the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------every fifth cases in example above) will not have a chance of being included in the sample group. ---------------------------------------------------------------------------------------- this issue.

4. Additional members of sample group are chosen by recruiting each Nth subject (5th --------------------------------------------------------------------------------------------------------------- population.

Let’s illustrate the application of stages above using a specific example.

Suppose your dissertation topic ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------as primary data collection method. ABC Company has 200 operational level employees who could be potentially ------------------------------------------------------, i.e. you will interview 12 employees.

Example 1

Suppose our population ------------------------------------------------------------------------------------- students systematically?

Since, 9000/1200 = 7.5, we can ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------student from that on until we have reached 1200 samples.

How do we estimate -------------------------------------------------- systematic sample?

We can not use the formula:

s2u=1n−1---------------------------------------------------------------∑i=1n(yi−y¯)2 since n = 1. ----------------------------------------------- unit is selected. If the population is randomly ordered, then there is no problem. We can estimate the variance σ2 by: s2=∑j=1M1(y1j−y¯1)---------------------------------------------------------------¯1)2M1−1 However, when the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------the variance. When the population is periodic, the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------poorly, then the elements sampled may be too similar to each other. Repeated Systematic Sampling

Unless the population is --------------------------------------------------------------------------------------------------------------------------------------------------. Thus, we need more than one primary unit.

Advantages --------------------------------------- Sampling-

When done correctly, ---------------------------------------------------------------- random sampling. The selection of ----------------------------------------------------------------------------------------------------------------------------------------------

-----------------------------in many situations. Systematic sampling is -------------------------------------------------------------------------------------------------------------------------------------

--------------------------------------face-to-face contact).

Disadvantages of Systematic Sampling

Systematic -------------------------------------------------------------- of population is available. If there are periodic patterns ---------------------------------------------------------------------- will be biased. If study participants deduce -------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------from study participants.

Advantages & Disadvantages of Systematic sampling in detail-

With statistics, people can ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------career. Sampling populations, in which researchers randomly select participants, can be expensive and time consuming, especially with ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- can save statisticians money. For example, a video store could ask every 10th customer returning a video to complete a survey.

Fast and Convenient

Sampling relies on the random selection of individuals or objects. Researchers standardize how they order the units in the population. For example, an inspector might ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------benefit from using systematic sampling when studying large populations because systematic sampling covers the sampling area uniformly. For example, if a -----------------------------------------------------------------------------------------------------------------------------------------------------from a few counties.

Periodicity

Events occurring at regular intervals have periodicity. For example, a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------. For example, salmon might swim up the river at the same time every year. Researchers might also notice that a pattern has periodicity. For example, ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- not match the pattern periodicity.

In another example, a statistician might randomly select health ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The selected sample might happen to all have diabetes, while not everyone who goes to ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------are unlikely and repeating the study at a later date will reveal the abnormalities in the study.

Averaging Samples Together

According to the Stony Brook University website, finding multiple samples and repeating the study can increase the chances that the overall results of the study will be accurate. For example, a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------might have an unusually high number of pathogens because of poor ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------up only 12.5 percent of the averaged results, instead of 25 percent.

Bias

Systematic sampling is a kind of ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------will have skewed results, which are results that diverge from the actual characteristics of the population. For example, a college ------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------attending the college. The results will be skewed, since the research will not represent all of Missouri but only the students.

Statisticians can avoid bias if they select units for the sample in a systematic way. For example, ----------------------------------------------------------------------------------------------------------------------------------------------------------about immigration reform.

Notes

Since systematic random ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------as the starting point or the initial subject.

The researcher must be certain that the chosen constant interval between subjects do not reflect a certain pattern of traits present in ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------sampling technique is compromised.

5. Discuss the applications of rating scales in various functional areas of management.

Concerning rating scales as systems of ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------rating scales used in the practice of medicine, see articles about diagnoses, for example, Major depressive disorder. A rating ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------psychology, common examples are the Likert response scale and 1-10 rating scales in which a ----------------------------------------------------- quality of a product.

A rating scale is a method that ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------be classified into one or two of three types:

Numeric ---------------------------scale --------------------------------- scale Descriptive --------------------------- scale

Some data are measured at the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------ordinal; one example is a Likert response scale. Applications of ------------------------------------------------- areas of management-

Rating scales are used in performance ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------assessments, are relatively easy to administer and assist in differentiating between employees.

Although there is no consensus on ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------by employers share common elements.

Rating scales may be numeric (e.g., 3, 4, 5) or alphabetic (e---------------------------------------------------------------------------------------------------------------------------------------------------------------------------. For example, one element on a scale may be “unacceptable performance,” described as “fails to meet basic ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------such as “basic,” “effective” and “very effective.”

Five- or seven-level performance management scales are most commonly used, but employers may choose alternatives. Each approach has advantages and disadvantages. For example, a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------five-level scale may provide an opportunity to better differentiate between employees by offering ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------not effective in making such fine distinctions and that they often focus on the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------on the center.

Regardless of the number of points on a rating scale---------------------------------------------------------------------------------------------------------------------------------------------------------------------------management, “Raters should be provided with examples of behaviors, skills, measurements, and other ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------person’s ‘5’ is another person’s ‘4’.”

Another type of performance ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------of performance and are used as common reference points called “anchors” for rating employees on various behavioral dimensions. For example, ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------contributes new ideas in team meetings,” and so forth. BARS scales are not commonly used, and ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------appraisal, but improved accuracy under BARS is dependent on developing language that is ----------------------------------------------------------------- and behavioral attribute.

Use of Rating Scales in Interviews

The interviewing process often ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------candidate for the job in question. Ratings generally evaluate one or more of the following:

1. Responses to --------------------------------------------------- advance) 2. Job-related competencies that ------------------------------------------------------------------------------ (also planned in advance) 3. The overall ----------------------------------------------------------------------- a single rating).

Each of these three approaches will be examined in turn below.

A credit rating is an evaluation of the --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- an implicit forecast of the likelihood of the debtor defaulting.[1] The credit rating represents an evaluation of a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------debtor and other non-public information obtained by the credit rating agency's analysts.

A credit reporting (or --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- or consumer credit reporting agency.

A sovereign credit rating is ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------of a country and is used by investors when looking to invest in particular jurisdictions, and also takes into account political risk.

Ratings are further broken down into ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------countries.[4] Results focus foremost on economics, specifically sovereign default risk or payment default risk for exporters (also known as a trade credit risk).

A. M. Best defines "country risk" ---------------------------------------------- ability to meet its financial obligations.

Credit ratings can address a corporation's ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- are Standard & Poor's, Moody's and Fitch Ratings. They use letter designations such as A, B, C. Higher grades are intended to represent a lower probability of default.

Graphic rating scales often do not describe in ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------ratings by providing either training or defining what is meant by “poor” or “excellent.” A common form of training for performance appraisals is known as frame of reference training. In this training system, employees are given clear and specific examples of ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------accurate reflections of an employee.

Organizations commonly use the graphic rating ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------companies compile results internally. At a job I had during college, the organization used a graphic rating scale that was ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------individual performance appraisals.

My experience with the graphic rating scale ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Because the rating scale was a three point scale, there were conflicts as to how to rate employees. The three choices ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------was being too nice and giving everyone good scores. However, I did not want to give anyone a bad ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------avoid conflict. Therefore, as a rater, I was committing the central tendency error, or the tendency to rate employees in the middle on a scale.

The servicer ratings are designed to be an ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------backed securities transactions. The ratings incorporate Fitch Ratings' analysis of the servicer's ---------------------------------------------------------------------------------, controls, and systems among others. The influence of financial condition within ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------condition. The agency's servicer ratings therefore address features of the company's profile largely independent of the entity's financial condition.

The agency rates commercial, residential, ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------to servicers of assets not currently securitized. The ratings are written with either a C, R, SB, or AB prefix to denote the asset class ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------commercial loan level, and 'AB' for asset-backed and/or unsecured loans. The asset class prefix will ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------servicer). The final component of the rating is the rating level. Within some of the rating levels, the -------------------------------------------------------- by pluses and minuses.

The rating scale method offers a high ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------" to "excellent" (or some similar arrangement).

The traits assessed on these scales include ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the traits selected for inclusion is limited only by the imagination of the scale's designer, or by the organization's need to know.

The one major provision in selecting ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------in legal action on the grounds of discrimination.

Advantages of Rating Scales The greatest ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------entire workforces.

Each employee is subjected to the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------imposes standard measures of performance across all parts of the organization.

Rating scale methods are easy to use and ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the bipolar scale. The result is widespread acceptance and popularity for this approach.

Disadvantages of Rating Scales Are the selected rating-scale ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------have a greater relevance in some jobs than in others.

For example, the trait "initiative" might ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------lacks initiative. Rather, it may reflect that fact that an employee has few opportunities to ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------must be taken into account.

Rating scales, and the traits ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------true and best indicators of performance are included, and all false and irrelevant indicators are excluded.

This is an assumption very difficult to prove ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------up with ratings that do not truly or fairly reflect their effort or value to the organization. Employees in this class are systemically disadvantaged by the rating scale method.

This includes various well-known problems ------------------------------------------------------------------------------------------------ problems of perceived meaning.

Selective perception is the human ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------ignoring or downplaying evidence that might contradict it).

This is a common and normal ---------------------------- other words, we see in others what we want to see in them.

An example is the supervisor ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------for them and may even offer excuses for their declining performance.

Problems of perceived meaning occur when -------------------- the selected traits and the language used on the rating scales.

For example, to one appraiser, an ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------on supervisory assistance - and thus a lack of initiative.

As well, the language and ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------gs to different appraisers.

The problem here is not so much errors in perception as errors in appraiser judgement and motive. Unlike perceptual errors, these errors may be (at times) deliberate.

The most common rating error is --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- (e.g., "satisfactory" or "adequate"), regardless of the actual performance of a subordinate. Thus the spread of ratings tends to clump excessively around the middle of the scale.

This problem is worsened in organizations where the appraisal process does not enjoy strong management support, or where the appraisers do not feel confident with the task of appraisal.

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School of Management Studies

INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068