MKTG 441 Exam 1 Review – Study Guide, Practice Questions & Key Concepts
What are the four scale measurement levels (NOIR) ? - ✔✔Nominal, Ordinal, Interval, Ratio
Nominal Scale - ✔✔- about categories
- numbers assigned to nominal scales have no arithmetic properties
- we do not compare the relative magnitude of the coded numbers
- Do not compute mean, median, standard deviation, or range
- We CANcompute mode, frequency
Ordinal Scale - ✔✔- All about order, ranking...
- Coded numbers can present relative magnitude
- Do not compute mean, or standard deviation
- We can compute median
Interval Scale - ✔✔- 0 is arbitrary
- Coded numbers can represent relative magnitudes
- Hierarchical differences and the absolute differences
- We can compute mean, median, mode, range, frequency
- Equal increments between each scale point
- For interval scales, we do not do division
Ratio Scales - ✔✔- 0 actually has meaning
- Coded numbers can represent relative and absolute differences
- We can compute median, mode, standard deviation, range, and frequency
- CAN do division
, Characteristics of Measures - ✔✔Central Tendency
Dispersion
Central Tendency Measures - ✔✔- mean, median, mode
- Sensitive to extreme values (outliers)
- Mean
- Not sensitive to extreme (outliers)
- Median, Mode
- No modes or several modes are possible
Dispersion Measures - ✔✔- Range, standard deviation, variance
- What does the data visualization with large or small standard deviation look like?
- Large Standard Deviation -> more scattered
- Small Standard Deviation -> more squeezed
Please compute the median and mode of the following series of numbers: 4, 7, 2, 2, 3, 3, 3, 10,
6, 6, 7, 7, 7, 8, 8
Ordered: 2,2,3,3,3,4,6,6,7,7,7,7,8,8,10 - ✔✔a. median = 6, mode = 4
b. median = 10, mode = 7
c. median = 6, mode = 7
d. median = 10, mode = 4
Which of the following statements is wrong?
What are the four scale measurement levels (NOIR) ? - ✔✔Nominal, Ordinal, Interval, Ratio
Nominal Scale - ✔✔- about categories
- numbers assigned to nominal scales have no arithmetic properties
- we do not compare the relative magnitude of the coded numbers
- Do not compute mean, median, standard deviation, or range
- We CANcompute mode, frequency
Ordinal Scale - ✔✔- All about order, ranking...
- Coded numbers can present relative magnitude
- Do not compute mean, or standard deviation
- We can compute median
Interval Scale - ✔✔- 0 is arbitrary
- Coded numbers can represent relative magnitudes
- Hierarchical differences and the absolute differences
- We can compute mean, median, mode, range, frequency
- Equal increments between each scale point
- For interval scales, we do not do division
Ratio Scales - ✔✔- 0 actually has meaning
- Coded numbers can represent relative and absolute differences
- We can compute median, mode, standard deviation, range, and frequency
- CAN do division
, Characteristics of Measures - ✔✔Central Tendency
Dispersion
Central Tendency Measures - ✔✔- mean, median, mode
- Sensitive to extreme values (outliers)
- Mean
- Not sensitive to extreme (outliers)
- Median, Mode
- No modes or several modes are possible
Dispersion Measures - ✔✔- Range, standard deviation, variance
- What does the data visualization with large or small standard deviation look like?
- Large Standard Deviation -> more scattered
- Small Standard Deviation -> more squeezed
Please compute the median and mode of the following series of numbers: 4, 7, 2, 2, 3, 3, 3, 10,
6, 6, 7, 7, 7, 8, 8
Ordered: 2,2,3,3,3,4,6,6,7,7,7,7,8,8,10 - ✔✔a. median = 6, mode = 4
b. median = 10, mode = 7
c. median = 6, mode = 7
d. median = 10, mode = 4
Which of the following statements is wrong?
