MKTG 482 Exam 3
Descriptive Analysis - answer Used by marketing researchers to describe the sample
dataset in such a way as to portray the "typical" respondent and to reveal the general
pattern of responses
Inference Analysis - answer Used when marketing researchers use statistical
procedures to generalize the results of the sample to the target population it represents
Difference Analysis - answer Used to determine the degree to which real and
generalizable differences exist in the population to help the manager make an
enlightened decision on which advertising theme to use
Association Analysis - answer Investigates if and how two variables are related
Predictive Analysis - answer Statistical procedures and models to help make forecasts
about future events
Central Tendency - answer Measure that describes the "typical" respondent or
response
Variability - answerMeasures that describe how similar (dissimilar) respondents or
responses are to (from) "typical" respondents or responses
The basic data analysis goal involved in all measures of central tendency is to: -
answerreport a single piece of information that describes the most typical response to a
question
Central tendency applies to: - answerany statistical measure used that somehow
reflects a typical or frequent response
Measures of Central Tendency - answerMode, Median, Mean
Mode - answera descriptive analysis measure defined as that value in a string of
numbers that occurs most often
Median - answerExpresses that value whose occurrence lies in the middle of an
ordered set of values
All measures of variability are concerned with: - answerdepicting the "typical" difference
between the values in a set of values
, Three measures of variability - answerFrequency distribution, Range, Standard
Deviation
Frequency Distribution - answerTabulation of the number of times that each different
value appears in a particular set of values
Range - answerIdentifies the distance between lowest value (minimum) and the highest
value (maximum) in an ordered set of values
Standard Deviation - answerIndicates the degree of variation or diversity in the values in
such a way as to be translatable into a normal or bell-shaped curve distribution
Parameter Estimation - answerthe process of using sample information to compute an
interval that describes the range of a parameter such as the population mean or the
population percentage
Parameter estimation involves the use of three values: - answerSample statistic,
Standard error, desired level of confidence
Sample Statistics - answerValues that are computed from information provided by a
sample
Parameters - answerValues that are computed from a complete census, which are
considered to be precise and valid measures of the population
Inference - answera form of logic in which you make a general statement (a
generalization) about an entire class based on what you have observed about a small
set of members of that class
Statistical Inference - answera set of procedures in which the sample size and sample
statistic are used to make an estimate of the corresponding population parameter
2 types of Statistical Inference - answerParameter Estimate & Hypothesis Testing
Parameter Estimate - answerused to approximate the population value through the use
of confidence intervals
Hypothesis Testing - answerused to compare the sample statistic with what is believed
to be the population value prior to undertaking the study
Standard Error - answerthe measure of variability in the sampling distribution
Confidence Interval - answerthe degree of accuracy desired by the researcher stated in
the form of a range with an upper and lower boundary
Market Segmentation - answerBased on differences between groups of consumers
Descriptive Analysis - answer Used by marketing researchers to describe the sample
dataset in such a way as to portray the "typical" respondent and to reveal the general
pattern of responses
Inference Analysis - answer Used when marketing researchers use statistical
procedures to generalize the results of the sample to the target population it represents
Difference Analysis - answer Used to determine the degree to which real and
generalizable differences exist in the population to help the manager make an
enlightened decision on which advertising theme to use
Association Analysis - answer Investigates if and how two variables are related
Predictive Analysis - answer Statistical procedures and models to help make forecasts
about future events
Central Tendency - answer Measure that describes the "typical" respondent or
response
Variability - answerMeasures that describe how similar (dissimilar) respondents or
responses are to (from) "typical" respondents or responses
The basic data analysis goal involved in all measures of central tendency is to: -
answerreport a single piece of information that describes the most typical response to a
question
Central tendency applies to: - answerany statistical measure used that somehow
reflects a typical or frequent response
Measures of Central Tendency - answerMode, Median, Mean
Mode - answera descriptive analysis measure defined as that value in a string of
numbers that occurs most often
Median - answerExpresses that value whose occurrence lies in the middle of an
ordered set of values
All measures of variability are concerned with: - answerdepicting the "typical" difference
between the values in a set of values
, Three measures of variability - answerFrequency distribution, Range, Standard
Deviation
Frequency Distribution - answerTabulation of the number of times that each different
value appears in a particular set of values
Range - answerIdentifies the distance between lowest value (minimum) and the highest
value (maximum) in an ordered set of values
Standard Deviation - answerIndicates the degree of variation or diversity in the values in
such a way as to be translatable into a normal or bell-shaped curve distribution
Parameter Estimation - answerthe process of using sample information to compute an
interval that describes the range of a parameter such as the population mean or the
population percentage
Parameter estimation involves the use of three values: - answerSample statistic,
Standard error, desired level of confidence
Sample Statistics - answerValues that are computed from information provided by a
sample
Parameters - answerValues that are computed from a complete census, which are
considered to be precise and valid measures of the population
Inference - answera form of logic in which you make a general statement (a
generalization) about an entire class based on what you have observed about a small
set of members of that class
Statistical Inference - answera set of procedures in which the sample size and sample
statistic are used to make an estimate of the corresponding population parameter
2 types of Statistical Inference - answerParameter Estimate & Hypothesis Testing
Parameter Estimate - answerused to approximate the population value through the use
of confidence intervals
Hypothesis Testing - answerused to compare the sample statistic with what is believed
to be the population value prior to undertaking the study
Standard Error - answerthe measure of variability in the sampling distribution
Confidence Interval - answerthe degree of accuracy desired by the researcher stated in
the form of a range with an upper and lower boundary
Market Segmentation - answerBased on differences between groups of consumers
