A-level Business Studies Lesson 14 (3.3.2)

Question 1

Market mapping

Answer 1

A technique that analyses markets by looking at the features that distinguish different products or firms.

Question 2

Sampling

Answer 2

Gathering data from a group of respondents whose views or behaviour should be representative of the target market as a whole.

Question 3

Confidence interval (or margin of error)

Answer 3

The plus or minus figure used to show the accuracy of statistical results arising from sampling.

Question 4

Correlation

Answer 4

A statistical technique used to establish the strength of the relationship between two sets of values.

Question 5

Causal link

Answer 5

A link between two sets of information or types of behaviour.

Question 6

Extrapolation

Answer 6

Using previous patterns of numerical data in order to predict values in the future.