Chapter 13 Flashcards
The observed differences or association between or among a set of variables is too great to have occurred by chance a certain proportion of times
Statistical Significance
A statistically significant difference does not mean that the findings have a managerial significance in that management should take note of the findings and act on the findings.
Indicates that the results have important meaning to managers and would indicate that some action on their part is justified.
Managerial Significance
The process of collecting, exploring, and describing data to derive meaningful information.
Statistical Analysis
A process used in scientific research to test assumptions about a population parameter or value which may or may not be true.
Hypothesis Testing
A statement about a population parameter or value that is made specifically to test whether or not a statement is true.
Expressed as a negative statement of no difference or no association.
Tested and is either accepted or rejected.
Null Hypothesis
Hypothesis Testing:
- Hypotheses are stated.
- Determine the costs
- Select Significance level
- Collect the data
- Compare the results
A statement that is accepted if the null hypothesis is rejected.
Stated in a positive format
Alternative Hypothesis
The numerical value placed on the likelihood that a value did not occur by chance when it actually did occur by chance and is usually expressed as .05.
Level of significance
A measure of the relationship between two variables to determine if there is a relationship and if so, the strength of the relationship.
Bivariate Association
Measures:
- Pearson Product Moment Correlation
- Spearman rank-order correlation
- Chi-square analysis
- Interval/Ration
- Ordinal
- Nominal
A measure of the relationship among more than two variables to determine if there is a relationship and if so, the strength of that relationship.
Multivariate Association.
Is used to measure the degree to which two variables are correlated or associated with each other when both of the variables are metric.
The Pearson Product Moment Correlation.
Interval or Ratio
Allows for the prediction of the level or magnitude of a phenomenon such as market size or market share.
Multiple Regression
Allows for the establishment of a predictive model that can simultaneously forecast or explain several phenomena based on an understanding of their correlates.
Canonical Correlation Analysis
The queen of Analytic techniques.
A method for determining the number and nature of underlying variables among larger numbers of measures.
Factor Analysis
