Chapter 12 Flashcards
What are the different types of statistical analyses used in marketing research?
- Descriptive analysis
- Inferential analysis
- Differences analysis
- Associative analysis
- Predictive analysis
What is descriptive analysis?
Used by marketing researchers to describe the sample dataset to portray the “typical” respondent and to reveal the general pattern of responses.
What is inference analysis?
Used when marketing researchers use statistical
procedures to generalize the results of the sample to
the target population it represents.
What is difference analysis?
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
What is association analysis?
Investigates if and how two variables are related
What is relationship analysis?
Statistical procedures and models to help allow insight
into multiple relationships among variables
What are two measures in descriptive analysis
Measures of central tendency or measures that describe the “typical” respondent or response
Measures of variability or measures that describe how
similar (dissimilar) respondents or responses are to (from) “typical” respondents or responses
What measures are in central tendency?
Mean, median, mode
What are the measures in measures of variability?
Frequency distribution: is a tabulation of the number of
times that each different value appears in a particular set of values
Range: distance between lowest and highest value
Standard: 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
Define statistics, parameters, and statistical inference
- Statistics are sample values
- Parameters are corresponding population values
- Statistical inference is the set of procedures used in
which sample statistics are used to estimate population
parameters
What are the two types of statistical inference?
A parameter estimate is used to approximate a parameter using confidence intervals
Hypothesis testing is used to compare sample statistics
to hypothesized parameter values
Define parameter estimation
Parameter estimation is the 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
It involves the use of three values:
– The sample statistic
– The standard error of the statistic
– The desired level of confidence
