What are the 5 basic types of Statistic analysis - Descriptive analysis, inference
analysis, difference analysis, associated analysis, and prediction analysis
Descriptive analysis - used by marketing researchers to describe the sample dataset
in such a way to portray the "typical" respondent a...
What are the 5 basic types of Statistic analysis - Descriptive analysis, inference
analysis, difference analysis, associated analysis, and prediction analysis
Descriptive analysis - used by marketing researchers to describe the sample dataset
in such a way to portray the "typical" respondent and to reveal the general pattern
of responses
Inference analysis - used when marketing researchers use statistical procedures to
generalize the results of the sample to the target population is represents.
difference analysis - used to determine the degree to which real and generalizable
differences exist in the population. Helps the manager make a decision on which
marketing theme to use.
associated analysis - investigates if and how two variables are related
predictive analysis - statistical procedures and models to help make forecasts about
future events.
Correlation - the relationship between two quantitative measurements. It shows the
strength and direction of a linear relationship. It does not tell us anything about
causation or anything about nonlinear relationships. -1 to +1.
Small interpretation of correlation - ranges between 0.1 and 0.29
, Medium interpretation of correlation - ranges between 0.3 and 0.49
Large interpretation of correlation - ranges between 0.5 and 1
Introduction of questionnaire - This is where incentives are offered to do
something for the respondent to increase the probability that the respondent will
participate in the survey.
screening questions - These are used to ferret out respondents who do not meet
qualifications necessary to take part in the research study
Question flow - the sequencing of questions or blocks of questions, including any
instructions, on the questionnaire
warm-up questions - simple and easy-to-answer questions
transitions - used prior to major sections of questions or changes in question
format. It notifies the respondent that the subject or format of the following
questions will change.
what are treated as representing two potentially different populations - independent
samples
Null Hypothesis - The hypothesis that the difference in population parameters
equals 0. (no difference)
Why are differences important - Market segmentation is based on differences
between groups of consumers
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